November 4, 2024 – Jarett Zackman of Horvath & Tremblay has successfully completed the sale of a new construction Heartland Dental in St. Augustine, Florida. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $3,579,160.
Heartland Dental is located at 50 Fulkerson Way in St. Augustine, Florida. Heartland Dental was constructed in 2023 and has over 8 years remaining on their double net lease with four (4), 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 4,328 square foot building is situated on a 0.89-acre parcel and features an attractive, modern architectural design. The property is an outparcel to a new Publix-anchored center that is situated along a popular retail corridor. Heartland Dental is situated in a highly accessible location with frontage along FL-207, which sees over 34,000 vehicles per day, and is directly off I-95 with an additional 86,000 vehicles per day. The property is in proximity to several new apartment and single-family developments, including the Estrada, Treaty Oaks, The Bradley, and Orchard Park, which provide a robust, built-in consumer base.
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.