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, build-to-suit Heartland Dental located in St. Johns, Florida, the fastest-growing county in Florida and 4th fastest in the United States (the “Property”). The Property is backed by a corporate-guaranteed Absolute NNN lease with Heartland Dental, the nation’s largest dental support organization, offering investors a passive and long-term cash-flowing asset. The 12-year primary term features 10% rent increases every five years, with additional increases through four 5-year renewal options, delivering built-in income growth.
Strategically positioned at the intersection of Greenbriar Road and Longleaf Pine Parkway, the Property benefits from exceptional visibility and co-tenancy. It is shadow-anchored by a Publix-anchored shopping center and surrounded by national brands including Chase Bank, Dunkin’, Mavis, and Jeremiah’s Italian Ice. Within a 3-mile radius, average household incomes exceed $155,000, highlighting the area’s affluence. Surrounding the Property are multiple large-scale residential communities, including The Landings at St. Johns, a 963-acre Pulte master plan, and Del Webb’s 55+ resort-style enclave. South of the site lies the 4,000-acre RiverTown development, one of the region’s largest and most ambitious master-planned communities. This convergence of affluent demographics, regional traffic, and rapid residential development reinforces the Property’s long-term investment appeal.
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 partneships 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 longterm stability as a tenant.
Located in St. Johns County, one of Jacksonville’s fastest-growing and most desirable areas, the Property sits squarely in the path of southeastern MSA growth. As Jacksonville’s development spreads toward St. Augustine, this corridor has emerged as a magnet for new housing, infrastructure improvements, and top-tier retail investment. With high-quality schools, a strong consumer base, and convenient access to metro Jacksonville and the Florida coastline, the region continues to attract upwardly mobile residents and long-term economic development. The Property’s location within this dynamic, high-demand market makes it a compelling opportunity for investors seeking both stable income and long-term appreciation potential.