November 20, 2020 – Brian Ahrens of Horvath & Tremblay has successfully completed the sale of Aspen Dental & Heartland Pharmacy in Little Rock, Arkansas. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $2,454,300.
Aspen Dental and Heartland Pharmacy are located at 11400 W Markham Street in Little Rock, Arkansas. The building was constructed in 2016 and is comprised of 5,000 square feet leased to Aspen Dental and Heartland Pharmacy. The property is located within the best retail corridor in Little Rock, where it is a hard corner outparcel to a shopping center anchored by Academy Sports, Dollar Tree, Michaels, and Planet Fitness. The property enjoys exceptional visibility on West Markham Street with traffic counts of 27,000+ vehicles per day and is less than ½-mile from I-430. Aspen Dental has 5+ years remaining on a double net lease with two, 5-year renewal options. The lease calls for a 10% rent increase in September of 2021 and 10% rent increases at the start of each option period. Heartland Pharmacy has 3 years remaining on a double net lease with one 5-year renewal option. The Heartland Pharmacy lease has 2% annual rent increases throughout the base term, a 5% rent increase at the start of their option period and 2% annual increases thereafter. The property benefits from strong surrounding demographics with more than 73,000 people within a 3-mile radius with an average household income in excess of $97,000.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.