AUSTIN, Texas - Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm arranged the sale of a single-tenant net-leased property occupied by Jefferson Dental & Orthodontics in Austin, Texas. The sale price could not be disclosed. In the past 36 months, Hanley Investment Group has completed the sale of 73 dental and medical retail investments valued at $403 million in the U.S.
Hanley Investment Group’s Vice President Garrett Wood, in association with ParaSell, Inc., represented the seller, FourT Realty, LLC of Austin. The buyer, a private 1031 exchange investor based on the West Coast, was represented by Daniel Solomon, a senior associate at Kidder Mathews of Los Angeles.
"We generated multiple competitive offers within the first 10 days of marketing and procured an all-cash 1031 exchange buyer from the West Coast who closed 30 days after opening escrow," said Wood. "We also helped facilitate a third-party property management service for the buyer, Net Leased Management of San Diego, specialists in the management of single-tenant net-leased properties."
The 4,053-square-foot building, a former Payless ShoeSource store, was built in 1987. In 2019, FourT Realty signed a new long-term net lease with Jefferson Dental to convert the building into a dental office. The building is situated at the hard corner, signalized intersection of North Lamar Boulevard and Rutland Drive at 9511 North Lamar Boulevard, which sees 38,000 cars per day. The dental office, located across from an H-E-B grocery store, benefits from a pylon sign and a 10-year corporate triple-net lease with over six years remaining on the initial lease term plus three five-year options with a 9% increase in each option period. Other tenants nearby include McDonald's, Whataburger, Taco Bell, Burger King, and Dollar Tree.
Founded in 1967, Jefferson Dental & Orthodontics provides compassionate, high-quality, affordable, and convenient dental and orthodontic care at more than 60 Jefferson Dental and The Smile Center offices throughout Texas, including the Dallas-Fort Worth, Houston, San Antonio, and Austin metroplex areas. With its advanced technology, including the iTero 3D Scanner, Jefferson Dental creates comprehensive oral health plans for each of their patients.
According to Wood, Jefferson Dental on North Lamar Boulevard is located in a dense urban Austin submarket. This area has 141,000 people within a three-mile radius, a population of 961,855 in the city, and over 2.3 million in the five-county metro area. The property is near Q2 Stadium, home to Austin FC, a professional soccer team, and The Domain, a high-density office, retail, and residential center often referred to as "Austin's second downtown." The Domain features a mix of upscale and mainstream retail stores, restaurants, office spaces, and residential units. The Austin metro area hosts nearly 9,800 high-tech industry companies and multiple Fortune 500 companies, including 3M, Dell, AMD, Amazon, Apple, Meta, Google, Tesla, and X (formerly Twitter). Additionally, it is a key player in the U.S. AI startup scene.
Austin is the capital of Texas, the 10th-largest city in the U.S., and the 4th-largest city in Texas. Austin was ranked among the top 10 best cities to live in the U.S., according to U.S. News & World Report, for 2024-2025. This ranking highlights Austin's casual atmosphere, outdoor activities, live music scene, and educational and job opportunities. Known as "The Live Music Capital of the World," Austin is famous for its vibrant music venues, Austin City Limits, and South by Southwest. The city has grown by 84% since 2000, and has been one of the fastest-growing large cities in the U.S. for the past two decades. By 2030, Austin is projected to grow by 28%. The University of Texas at Austin, a public university offering 13 schools and colleges, is one of the largest universities in the U.S., attended by over 53,000 students.
"Texas offers a unique combination of economic stability, population growth, and a favorable business climate, making it an ideal location for retail investment," highlighted Wood. "The state's diverse markets, strong infrastructure, and absence of state income taxes provide investors with numerous opportunities for long-term success."
Over the past 36 months, Hanley Investment Group has facilitated the sale of $420 million worth of retail properties in the Texas market and currently has five single-tenant net-leased properties located in Texas in escrow.
About Hanley Investment Group
Hanley Investment Group Real Estate Advisors is a real estate brokerage and advisory services company with over an $11 billion transaction track record that specializes in the sale of retail properties nationwide. Our expertise, proven track record, and unwavering dedication to putting clients' needs first set us apart in the industry. Hanley Investment Group creates value by delivering exceptional results through the use of property-specific marketing strategies, cutting-edge technology, and local market knowledge. Our nationwide relationships with investors, developers, institutions, franchisees, brokers, and 1031 exchange buyers are unparalleled in the industry, translating into maximum exposure and pricing for each property. With unmatched service, Hanley Investment Group has redefined the experience of selling retail investment properties. For more information, visit www.hanleyinvestment.com.
Media Contact
Company Name: Hanley Investment Group Real Estate Advisors
Contact Person: Garrett Wood, Vice President
Email: Send Email
Phone: 512.712.3657
Address:3500 East Coast Highway, Suite 100
City: Corona del Mar
State: California
Country: United States
Website: https://hanleyinvestmentgroup.com/
