Heartland Dental - St. Louis, MO

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee simple interest in a freestanding single-tenant Heartland Dental located at 9420 Watson Road in St. Louis, Missouri (“Property” or “Asset”). Heartland Dental is the leader in dentistry, and the largest dental support organization in the U.S. with over 1,800 supported locations nationwide.

The Asset is operating on a brand new 12-year absolute triple-net lease with ±11.6 years of term remaining. The lease features four, five-year renewal options and 10.0% rent escalations every 5 years in the primary term and options. The Property opened for business the third quarter of 2024.

Located in the St. Louis metropolitan area, Watson Road is a dense commercial and residential corridor providing access to more than over 2.8 million people within a one-hour drive. The Property is positioned in a highly affluent city that earns $141,000 in average household income in a one-mile radius. The Property is situated between an Aldi and Schnucks Grocery Store, both of which are ranked in the 97th and 71st percentile of their respective brand’s locations nationally by annual visits, per Placer.ai. The Washington University of St. Louis, which has over 16,500 students enrolled, is also located just 8 miles from the Property.

There is a major mixed-development underway directly across from the Property that will transform the Watson corridor. Dierbergs and McBride Homes have partnered together to develop a 47-acre mixed-use development known as Crestwood Crossing, which will encompass ±467,000 square feet of retail space and 81 luxury single-family homes. The multi-phase project is currently under construction but set to be completed by the end of 2025. The Property will benefit from the surge in population growth to the immediate one-to-three-mile radius.

This rare opportunity allows investors the ability to acquire over 11 years of secure, passive cash flow from an industry leading tenant in a fundamentally strong and affluent St. Louis metropolitan submarket.