Aspen Dental | Near Highlands, NC

Investment Highlights

TOP PERFORMING ASPEN DENTAL SHADOW ANCHORED BY WALMART
• This Aspen Dental is the only national dental office in Franklin and is the closest national dental office servicing Highlands, NC.
• This store ranks in the top 17% in the country against all other Aspen Dental locations (Placer.ai).
• Aspen Dental is shadow anchored by the only Walmart within 21 miles and is the closest Walmart to Highlands.
• Due to the topography of the region, there are difficult barriers to entry to overcome, making it nearly impossible to build another Walmart Supercenter in town.
• The subject property is part of a shopping center with excellent visibility at a signalized intersection on Highway 23 (25,000 VPD). The Tenants in the center include ALDI, Chick-Fil-A, & Starbucks.
• Other nearby national retailers include Lowe’s Home Improvement, Food Lion, Harbor Freight Tools, Ingles, and more.

HIGHLANDS, NC | ATTRACTS 6 MILLION TOURISTS PER YEAR
• Franklin, NC is only 30 minutes away from Highlands and acts as a national retail hub for residents & visitors of Highlands.
• Due to its close proximity to major cities like Atlanta, Nashville, Charlotte, Greenville, and Charleston — Highlands is an extremely popular travel & leisure destination in the southeast and attracts over 6 million visitors annually.
• Widely known as a summer retreat to escape the humidity, Highlands is filled with residents and visitors who come to enjoy yearround hiking, waterfall spotting, art, music, and top-tier dining and hospitality destinations
• Tourism accounts for a substantial percentage of jobs in Highlands, with estimates suggesting it supports around 25-30% of local employment, primarily in hospitality and retail.
• The unemployment rate in Highlands is 3.25%, well below the national average of 6% and job growth over the next few years is predicted to be over 30%.

10 YEAR CORPORATE LEASE WITH 10% RENT INCREASES
• The subject property opened and rent commenced in October 2022.
• There are approximately 8 years remaining on a 10 year corporate lease with Aspen Dental.
• There are attractive 10% rent increases every 5 years in the initial term and in each of the three, 5-Year options.
• The Tenant is responsible for Common Area Expenses, Taxes, Insurance, HVAC, and all maintenance & repairs that are not the responsibility of the landlord.
• There are limited landlord responsibilities which only include roof and structure.

ASPEN DENTAL | ONE OF THE LARGEST & FASTEST GROWING DENTAL BRANDS
• Aspen Dental is one of the largest dental support organizations in the country with over 1,000 locations in 46 states with plans to open 75-100 locations in 2024.
• Aspen Dental services over 30,000 patients daily and has annual revenues that surpass $500 Million.
• Founded in Syracuse, NY in 1994, Aspen Dental has grown to over 1,000 locations in just 30 years.
• Aspen Dental is a dental support organization that provides nonclinical business support services to the independently owned and operated dental practices.