Heartland-Dental_Sherwin-Williams_Verizon---Naples,-FL

September 6, 2019 –Robert Horvath, Todd Tremblay and Brad Canova of Horvath & Tremblay have successfully completed the sale of the Heartland Dental and Shops in Naples, Florida.  Horvath & Tremblay procured the buyer to complete the transaction at a sale price of $6,835,000, which translates to a 5.76 % Cap Rate.

The property, located at 8921 Immokalee Road in Naples, Florida, consists of Heartland Dental, a 4,000 square foot, new construction, stand-alone building, and a second new construction building that consists of 5,500 square feet, and is home to Verizon Wireless and Sherwin Williams.  The three tenant center benefits from excellent frontage and access along Immokalee Road (with traffic counts in excess of 30,000 vpd).   Heartland Dental and Sherwin Williams both have 9 years remaining on their NNN leases, and each have four, 5-year option periods with increases on their leases. Verizon Wireless has 4 Years remaining on their NNN lease with two, 5-year option periods, both with increases.   The property is well located and is surrounded by national retailers that create a strong draw to the area within the affluent Naples market.

Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.