221 Simpson Park Rd

• 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.
• Dental offices do not frequently offer the rare combination of a lease term over 10 years and strong 3% annual inflation hedge. The average cap rate across the base term of the lease is 8.37%, which grows to 10.21% by the final year.
• Dentistry is one of the largest segments of healthcare, and pediatric dentistry is among its most medically necessary specialties. Cleveland County is home to approximately 103,000, of whom about 22% (more than 22,000) are under the age of 18, supporting long-term patient demand for pediatric dental services. The property sits directly next to Jefferson Elementary School (+400 students)
• Shelby is attracting significant manufacturing investment. PPG is investing $380 million in a new manufacturing center that will create 110 jobs with average wages near $67,000. Greenheck Group has announced a $58.8 million expansion creating more than 400 jobs, and Clearwater Paper has invested more than $22 million in its Shelby mill expansion. New employment brings new families and long-term demand for healthcare services.
• Shelby is home to Atrium Health Cleveland, a 241-bed acute care hospital serving all of Cleveland County and the surrounding region. Atrium Health Cleveland was the first Level III trauma center in North Carolina and anchors a deep medical ecosystem of physicians, specialists, and referral relationships.
• Dental and specialty healthcare 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.
• The property sits just off Wyke Road, which carries roughly 14,500 vehicles per day, within a cluster of healthcare users including Shelby Eye Centers, OrthoCarolina, Piedmont Plastic Surgery & Dermatology, and VIA Health Partners. Jefferson Elementary School (±439 students) is next door, and nearby housing, including the ±144-unit Carlisle at Delta Park and Shelby Manor Assisted Living, adds to the surrounding patient base.