Pegasus Investments Real Estate Advisory Inc. and ParaSell, Inc., as exclusive investment sales advisors to the Seller, are pleased to present the opportunity to acquire the fee simple interest in a brand-new, redevelopment-to-suit Heartland Dental located in Lakeland, Florida (the “Property”). The Property is leased on a corporate-guaranteed Absolute NNN basis to Heartland Dental, the largest dental support organization in the United States, providing investors with stable, long-term, and truly passive income. The 12-year primary lease includes 10% rental increases every five years and in each of the four 5-year renewal options, offering strong built-in growth.
Strategically positioned as an outparcel to Plantation Square, a well-established Publix-anchored center, with 2.4M visitors annually, the Property enjoys outstanding visibility at the high-traffic intersection of N Socrum Loop Road and Old Combee Road. In addition to a top-ranked Publix, the center features national tenants such as CVS, McDonald’s, Truist Bank, Subway, and The UPS Store, along with popular regional food operators. Lakeland is the fastest-growing metro in the country, with its proximity to I-4, Central Florida’s main interstate connecting Tampa and Orlando, the Property benefits from a dense and active consumer base. Nearby residential neighborhoods, including the Links of Sandpiper golf community, further enhance the site’s demand drivers through consistent daytime and evening traffic.
Heartland Dental’s lease guaranty adds meaningful credit strength to the investment. As the nation’s leading DSO, Heartland supports more than 1,800 locations across 39 states and Washington, D.C., with strategic backing from private equity giant KKR. In 2024, Heartland reported $3.6B annual revenue, added over 130 offices, expanded into new states, and continued to enhance its AI-driven clinical tools through partnerships with VideaHealth and Henry Schein One, supporting a network of more than 20,000 clinicians. Heartland’s impressive scale, consistent growth, and continued investment in innovation reinforce its long-term stability as a tenant.
Lakeland’s economy is anchored by the corporate headquarters of Publix Super Markets, a major employer of more than 6,500 local residents. Publix’s presence has driven over $100 million in recent investments, including a new downtown tech campus projected to add 200 high-paying jobs by 2028. As the largest employee-owned grocery chain in the U.S., Publix generates significant economic ripple effects through its workforce, infrastructure spending, and supply chain demand. In addition, Lakeland draws consistent tourism and cultural traffic thanks to attractions like Publix Field at Joker Marchant Stadium, home to the Detroit Tigers’ spring training, the Florida Air Museum at Sun ’n Fun, and proximity to LEGOLAND Florida Resort. Combined, these drivers position Lakeland as a dynamic Central Florida hub with long-term economic resilience and growing investor appeal.