AUSTIN--HighStreet Net Lease Group recently represented a private group in the disposition of a single-tenant net-leased medical asset located at 8316 Tuscany Way in Austin. The property was a build-to-suit for Affordable Dentures, a tenant specializing in personal dental services.

Purchased as an investment vehicle, the 3,000-square-foot property is located on a 1.13-acre parcel. Affordable Dentures is currently on a double net lease that places responsibilities on the landlord for maintenance and replacement of the roof and structure. Despite this, HighStreet Net Lease Group achieved an aggressive cap rate on the sale, say reps for the company.

“Although the current tenant lacked name recognition and the lease contained landlord obligations, HighStreet Net Lease Group was able to find an ideal buyer for this disposition by highlighting multiple positive aspects of the property, including the location and tenant's strong revenue history, which resulted in an attractive sales price for our client,” Matt Moake, an acquisition/disposition executive at HighStreet Net Lease Group, told GlobeSt.com. “They now have ample funds to exchange up into a more desirable property.