October 20, 2023 – Jack Laurendeau of Horvath & Tremblay has successfully completed the sale of Heartland Dental in Grand Rapids, Michigan. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $2,709,678.
Heartland Dental is located at 348 Wilson Avenue NW in Grand Rapids, Michigan. The new construction Heartland Dental has a 10 year double net lease with three (3), 5-year renewal options. The Lease calls for 10% increases every five years throughout the primary term and at the start of each of their renewal options. The new construction 4,200 square foot building is situated on a 0.98-acre parcel and features an attractive architectural design. The property is located adjacent to the signalized intersection of Wilson Avenue NW and Lake Michigan Drive, the area’s primary commercial and commuter corridors. The Property is surrounded by national retailers and restaurants that drive traffic to the area and is also convenient to several densely populated residential neighborhoods and large apartment complexes providing a built-in customer base. Heartland Dental is just minutes from Grand Valley State University with a student enrollment of more than 21,600, and is 6-miles from downtown Grand Rapids.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the 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.