No, there is no other place that exists other heaven or hell, so the end will be to either heaven or hell.
فريق في الجنة وفريق في السعير
A party will be in Paradise and a party in the Blaze
Surat Ashura Ayah Ayah 7
Though before the separating of the people, there will be a people who will be kept in between heaven and hell for as long as Allah wills, neither deserving to go to Jannah nor to Jahannam, they are known as Ahlul A'raaf, then they will enter Jannah.
وَبَيْنَهُمَا حِجَابٌ ۚ وَعَلَى الْأَعْرَافِ رِجَالٌ يَعْرِفُونَ
كُلًّا بِسِيمَاهُمْ ۚ وَنَادَوْا أَصْحَابَ الْجَنَّةِ أَن سَلَامٌ
عَلَيْكُمْ ۚ لَمْ يَدْخُلُوهَا وَهُمْ يَطْمَعُونَ
And between them will be a partition, and on [its] elevations are men
who recognize all by their mark. And they call out to the companions
of Paradise, "Peace be upon you." They have not [yet] entered it, but
they long intensely
Surat Al A'raaf Ayah 46
So I repeat, there is no other place that exists other then heaven or hell.