The Snyder Carlton National Net Lease Team is pleased to offer to investors an opportunity to acquire a new construction two-tenant retail asset in Westfield, IN (Indianapolis MSA). Heartland Dental supports over 2,800 dentists in more than 1,800 offices across 38 states while BMO Harris Bank has over 1,000 locations and has an investment grade credit rating from S&P of A+ (Moody’s: A3). Both tenants are subject to long term net leases with limited landlord responsibilities. BMO Bank has over 14.5 years remaining in the primary term and Heartland Dental (DBA: Grand Maple Dental Care) has over 9.7 lease years remaining. Both leases comprise 10% rent increases every 5 years and four 5-year option periods making this asset ideal for an investor seeking inflation resistant cash flows with minimal responsibilities.
The 7,990 SF building on 2.05-acre parcel is strategically located on the hard corners of W 176th Street (17,600 VPD), Gravel Street and W Tournament Trail and is positioned in new development retail corridor of Westfield. Nearby retailers Include McDonald’s, Chick-fil-A, Starbucks, Dunkin’, Tractor Supply Co., Meijer, Goodwill and CVS.