Retail

WellNow & Aspen Dental - Sidney, OH

2277-79 Michigan Street Sidney, Ohio United States 45365
Asking Price
Area Size
NOI Net Operating Income
Cap Rate

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key facts

Year Built 2022
Building Area Net
Occupancy 100.0 %

Property description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale the fee-simple interest in a brand-new construction two-tenant retail strip center (the “Property” or “Asset”) located at 2277-2279 Michigan Street in Sidney, Ohio. The Asset is approximately 7,000 square feet and is 100% occupied by WellNow Urgent Care & Aspen Dental. Both tenants boast 10-year leases with three, 5-year extension options. The leases boast attractive rent increases in the contractual term and each subsequent renewal option. The Property is ideally situated along Michigan Street, a highly trafficked retail corridor with over 22,000 vehicles per day. The Asset is located across the street from a Walmart Supercenter (1.8M visitors in the last 12-months, source: Placer.ai) and a Kroger (1.3M visitors in the last 12 months, source: Placer.ai). The retail trade area is home to high quality national tenants such as Menards, Lowe’s, Ollie’s Bargain Outlet, Tractor Supply, CVS and Walgreens. 

Investment highlights

BEST-IN-CLASS RETAIL TENANCY

  • WellNow Urgent Care has 85+ locations today and opened more than 50 locations across New York and Illinois in 2020. Top 10 urgent care providers in the United States.
  • Aspen Dental has over 900 branded practices and services nearly 5 million patient appointments to date. Over 75 Aspen Dental branded practices are expected to open every year.


OPTIMAL LONG-TERM NET LEASE STRUCTURE

  • Both tenants are operating on brand-new 10-year leases with double-net structures, featuring minimal landlord responsibility and significant contractual rent increases.


STRATEGIC REAL ESTATE POSITIONING

  • The Asset is located along Michigan Street that sees 22,000 vehicles per day.
  • Strategically positioned within the main retail corridor benefitting from established consumer traffic patterns from Walmart Supercenter, Kroger, Lowe’s and Menards.
Last Updated Date: 14 Apr 2022

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Last Updated Date: 14 Apr 2022

Do you have any questions?  Visit our FAQ page

The value of trust beneficiary rights fluctuates due to fluctuations in the price of real estate, and there is a risk of falling beyond the investment principal. Real estate prices are fluctuated by changes in the population of the area in which they are located and the number of newly supplied properties, fluctuations in interest rates and exchange rates, changes of tax system, loss/damage due to natural disasters such as earthquakes, deterioration over time, and the discovery of hidden defects such as soil pollution.

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