Aspen Dental is an industry leader in full-service dental care. This location, constructed in 2016, is on a busy retail and business corridor on US-441 in Milledgeville, GA with traffic counts exceeding 36,000 VPD. Milledgeville is located in Middle Georgia and was the state capital from 1807 to 1867. This area is also part of Georgia’s “Aerospace Corridor” anchored by nearby Robins Air Force Base in Warner Robins.This recently built, attractive, 3,780 SF, single tenant NN leased property on ±.92 acres is situated between a new Aldi and Walgreens. The immediate trade area includes the Milledgeville Mall, and national retailers such as PetSmart, Hobby Lobby, Lowe’s, Office Depot, Belk, Bed Bath and Beyond, Tractor Supply, and numerous casual dining and fast food restaurants.When Aspen Dental opened its doors in 2016, they operated 500 locations in 30 states. Today, Aspen Dental has over 800 locations nationwide in 43 states. This location meets the ideal target audience profile that Aspen Dental seeks. Milledgeville provides a large residential population of over 30,000 within 5 miles, local universities, a military college, and many large employers from which to draw patients from.The 10-year NN lease has over 6 years remaining on the initial term with two five-year renewal options. In addition, there are 10% rent increases every 5 years. Landlord responsibilities are limited to roof and structure. The Tenant fully reimburses the Landlord for taxes, insurance, and landscaping expenses.Aspen Dental is an “essential business” in the current COVID-19 environment. Additionally, this net lease investment offers outstanding real estate and a competitive cap rate of 6.6% with a strong corporate guarantor.
