PROPERTY & LEASE HIGHLIGHTS
• Heartland Dental Corporate Guaranty - Lease features a corporate guaranty
from Heartland Dental – the nation’s most dominant dental support organization
in the United States with over 1,800 supported practices across 39 states.
• Low Rental Rate / SF - The lease at $22 per square foot is well below market rates
for comparable dental offices in the Phoenix MSA. This reduces tenant turnover
risk and enhances long term tenant stability at this location.
• HOA (Homeowners Association) Maintained Medical Corridor - The property’s
exterior and common areas are maintained by the HOA, with Heartland Dental
reimbursing the monthly HOA fee as part of their lease obligations.
• Meticulously Maintained Property - This office features state-of-the-art
equipment and modern finishes, ensuring long-term functionality and
aesthetic appeal.
• Top MSA (Phoenix Metro Area) - Gilbert is the 5th largest city in Arizona
(275,000+ residents) and a key part of the Phoenix MSA, one of the fastestgrowing metropolitan areas in the U.S.
• Secure Financial Backing - Heartland Dental is supported by global private
equity and investment firm KKR & Co. Inc. (NYSE: KKR). KKR is a leading global
investment firm with 26 offices across 4 continents, and $638 billion in total
assets under management (AUM) as of December 31, 2024). They are the 2nd
largest private equity firm in the world based on AUM, right behind Blackstone.
• Passive & True NNN Lease Structure – This NNN lease offers a hands-off
investment opportunity, with minimal landlord responsibilities.
• Inflationary Protected Lease - Lease features a 10% rental increase in ±5 Years,
providing a landlord with a solid hedge against inflation.
• The Largest Dental Group In The World - Founded in 1995, Heartland Dental
supports +20,000 employees and 2,800 doctors. As the nation’s leading DSO,
Heartland is at the forefront of modern dentistry - driving innovation, clinical
excellence, and scalable practice growth across its expansive network.
TENANT HIGHLIGHTS
• Successful Practice Acquisition - This practice This practice (formerly Desert Springs Dental) was just acquired by Heartland Dental a few months ago in February of 2025 due to its strong performance and long-standing success in the community
• Unmatched Scale - Heartland Dental supports 1,800+ practices across 39 states.
• Aggressive Growth Trajectory - In 2024 alone, Heartland added 31 new affiliations and opened 105 new practices, including entering its 39th state (Utah). Global investment firm KKR continues to provide strategic and financial backing for long-term growth and acquisition strategy.
• Continuing Education - Through Heartland Dental University, they’ve delivered over 76,000 CE completions in 2024 across 1,300 courses.
• Advanced Technology Integration - Strategic partnerships with VideaHealth and Henry Schein One deliver AI-powered diagnostics and practice management tech across the network.
• Long-Term Commitment To Location – Dental practices, especially well established general dentistry offices, rarely relocate due to the high cost of equipment, build-out expenses, and the need to retain existing patients. This ensures long-term stability at this location.
• Essential Healthcare Service – General dentistry is a recession-resistant industry, as routine dental care remains a necessity regardless of economic conditions. This makes the tenant a low-risk, stable investment.
• Booming Dental Industry - The U.S. dental services industry is projected to grow from $154.96 billion in 2023 to $254.09 billion by 2032, at a 6.24% CAGR, reflecting increasing demand for dental care.