Aspen Dental & Starbucks 9550 S 71st Plz

Lee & Associates | Omaha is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a 100% occupied, newly built, two-tenant retail strip investment property located in Papillion, NE (Omaha MSA). The offering features a strong health and retail-based tenant lineup of Aspen Dental and Starbucks, who have recently signed brand new 10-year leases with additional options to extend, demonstrating their long-term commitment to the site. In addition, the leases feature scheduled rental increases every 5 years throughout the initial term and options (see rent roll), growing NOI and hedging against inflation. The asset, which is opening in 2024, provides zero short term rollover and features a state-of-the-art design using the highest-quality materials available. Furthermore, Starbucks is equipped with an end-cap drive-thru lane, providing ease and convenience for customers.
The subject property is strategically located near the signalized, hard corner intersection of Cornhusker Road and 72nd Street, averaging a combined 58,200 vehicles passing by daily. The asset also benefits from nearby access onto State Highway 85 (29,500 VPD), making it a centralized location with easy commutes for employees and customers. The property is ideally situated as an outparcel to Settler’s Creek Marketplace, a 239K+ SF Lifestyle center anchored by Sam’s Club, ALDI, and Hobby Lobby. The additional nearby prominent shopping centers include Shoppes at Market Pointe (518K+ SF), Tara Plaza (66K+ SF), Brentwood Square (227K+ SF), and others. The surrounding national/credit tenants include Walmart Supercenter, Lowe’s, Kohl’s, The Home Depot, Target, Trader Joe’s, Chick-fil-A, and others. The strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. Moreover, the property is near numerous single-family communities and multi-family complexes including Vivere Apartments (384 units), Tuscany Apartments (392 units), The Pointe (528 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by over 179,000 residents and 91,600 daytime employees. Residents within 1-, 3-, and 5-miles of the site boast an affluent average household income of $135,798, $116,739, and $101,762, respectively.