210 Willow St NW

Best In Class Tenant:
• Independence Dental is a premier operator of both general and specialty dental practices with over 70 locations across the US. NC Pediatric Dentistry is an established brand within the North Carolina markets they serve. They have 16 locations, over 20 doctors, and have been operating for decades.

14-Year NNN Lease, 3% Annual Increases:
• Dental offices do not frequently offer the rare combination of a lease term over 10 years and a strong 3% annual inflation hedge. Rent increases each June. The average cap rate across the base term of the lease is 8.37%, which grows to 10.21% by the final year.

Pediatric Specialty, Recession Resistant Industry:
• Dentistry is one of the largest segments of healthcare, and pediatric dentistry is among its most medically necessary specialties. Caldwell County is home to roughly 81,000 residents, of whom about 19% (more than 15,000) are under the age of 18, supporting long-term patient demand for pediatric dental services.

Regional Healthcare Hub:
• Lenoir is home to UNC Health Caldwell, a 137-bed acute care hospital and the only acute care hospital in Caldwell County. As a member of the UNC Health System, it anchors a medical ecosystem of physicians, specialists, and referral relationships, with a network of medical parks throughout the county.

Major Technology Investment and Job Growth:
• Lenoir is home to a Google data center campus that has operated in the city since 2007. Google has announced a $1 billion investment to expand the Lenoir facility over the next two years, alongside community and workforce development funding in Caldwell County. The campus is the county’s largest taxpayer and part of a western North Carolina data center cluster that includes Apple, Meta, and Microsoft. This investment brings high-wage employment and long-term stability to the local economy.

Specialized Use and Tenant Investment in Location:
• Specialty dental build-outs are costly, with plumbing, X-ray, and clinical infrastructure that make relocation expensive for operators. This encourages tenants to remain in place and renew.