Asking Price Contact for pricing
Area Size
NOI Net Operating Income
NIY N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 1995
Building Area Gross
Land Area Gross ()
Occupancy 95.0 %

Asset Description

JLL Capital Markets, as exclusive broker, is pleased to offer the exceptional opportunity to acquire Gateway Plaza, a 214,489 square foot open-air shopping center anchored by Floor & Decor, Ashley Furniture, Collier’s Furniture Expo (sublease), Bed Bath & Beyond, and Michaels, located directly adjacent to the heavily-trafficked Interstate-4 in Sanford (Orlando), Florida, one of the most desirable and affluent communities in Florida.


Investment Highlights

  • Orlando MSA – Florida’s 3rd Largest and Fastest Growing MSA with 2.7 Million Residents, Representing 62% Population Growth Since 2000
  • Booming Lake Mary & Sanford Submarket with an Average Household Income Exceeding $100,000 Within 3 Miles
  • Most Dominant Retail Trade Area in Northern Orlando Acting as a Regional Center of Gravity for Category-Leading Tenants Between Altamonte Springs (9.7 Miles South) & Orange City (10.3 Miles North)
  • Enhanced Super-Regional Connectivity Due to the Nearby Completion of SR-429 & SR-417 Toll Road in 2023, Providing Excellent Access to the Entire Orlando MSA
  • Very Low, Below-Market Rent Levels with a Weighted Average Anchor & Shop Tenant Base Rent of $8.25 PSF and $17.06 PSF, Respectively
  • Strong Tenant Renewal History as 6 of 10 Tenants Have Renewed at Least Once at the Property
  • Excellent Opportunity to Unlock Rent Upside with the Collier’s Furniture Sublease (Legacy Toys R Us Ground Lease Sold in Bankruptcy)
  • Ideal Store Spacing with the Next Closest Store for Each Anchor Tenant at Least 8 Miles Away
  • Heavy Visitor Traffic with Floor & Décor & Dollar Tree Ranking in the Top 25% of Their Respective Chains Over the Past 12 Months (Placer.ai)
  • Strong Dollar Tree Sales Outpacing Chain Average by 43.4% in 2020, Resulting in a Favorable Health Ratio of 8.3%


Last Updated Date: 08 Dec 2021

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Last Updated Date: 08 Dec 2021

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