For sale to qualified investors is the fee-simple interest in an investment-grade
medical asset backed by University Hospitals Health System, Inc. (UH), and Heartland
Dental, LLC, located in Avon, Ohio. This 13,802 square foot property is 100% leased
to UH (10,007 SF) and Heartland Dental (3,795 SF), both of which feature corporate
leases with combined annual revenue exceeding $10 Billion. Showing commitment to
the location, UH recently signed a 7 year lease extension featuring rental increases
during years 6 and 7, and each year during the 7 year option that follows. Similarly,
Heartland Dental, who has annual CPI increases, recently acquired the local dentist
in the property and is under lease through 2031. Both tenants are under triple-net
leases which fully reimburse CAM, real estate tax, and insurance, in addition being
responsible for their own HVAC. The property is situated in the epicenter of Avon’s
commercial corridor at the signalized intersection of Chester Road and State Route
83, with over 50,000 vehicles per day. The corner location features nearby Interstate
90 access and is surrounded by other retail, office headquarters, and medical, which
in recent years has propelled Avon into one of Cleveland’s top ranked suburbs. This
combination of creditworthiness, tenant commitment, traffic and access, and other
commercial synergy offers the investor an asset-type rarely seen on the market.