Retail

Oviedo Park Crossing - Oviedo, FL

1115 Vidina Pl Oviedo, Florida United States 32765
Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
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 1999
Building Area Gross
Occupancy 100.0 %

Asset Description

JLL Capital Markets, as exclusive broker, is pleased to offer the excellent opportunity to acquire Oviedo Park Crossing, a 186,212 square foot open-air shopping center anchored by Bed Bath & Beyond, TJ Maxx, Ross Dress for Less, Michaels, Office Depot, PetSmart, and Shoe Carnival, located directly adjacent to the heavily-trafficked SR-417 in Oviedo (Orlando), Florida, one of the most affluent communities in Florida.

Investment Highlights

SUCCESSFUL & SEASONED BELOW-MARKET ANCHORS PROVIDING STRONG CONTRACTUAL NOI POTENTIAL

  • The weighted average anchor base rent is low and every anchor has a history of renewal: TJ Maxx (3x), Ross (3x), Michaels (3x), Office Depot (2x), PetSmart (2x), Shoe Carnival (2x), and Bed Bath & Beyond (1x).
  • The Property is the most successful open-air center in the region, providing ideal anchor store spacing between Winter Park (7 miles southwest), Waterford / Alafaya (7.2 miles south), and Altamonte Springs (8.5 miles west).
  • Ross and Office Depot both have one remaining renewal option and a history of renewal, creating a mark-to-market opportunity and significant NOI growth potential within a 10-year hold period.

OVIEDO – TOP FAST GROWING, AFFLUENT, AND EDUCATED COMMUNITY IN ORLANDO

  • Oviedo is a top choice to live and has some of the highest income demographics in Orlando, evidenced by an average household income of more than $115,000 within 3 miles.
  • The 4 largest Class A office markets in Orlando, including in the nation’s 7th largest research park in Central Florida Research Park, are located within a 20-minute drive.
  • Oviedo is directly adjacent to University of Central Florida (UCF), the 2nd largest public university in the U.S., which combined with executive resident bases results in nearly 52% of the population having a bachelor’s degree or higher within 3 miles.

DOMINANT EAST ORLANDO RETAIL AND MEDICAL HUB

  • Advent Health and Oviedo Medical Center, two of the largest hospital systems in the U.S., have medical campuses located adjacent to the Property.
  • The 950,000 SF Oviedo Mall, located directly north of the Property, is ripe for redevelopment due to the super-regional access provided via SR-417 (81,000 VPD), affluent residential communities, and outstanding nearby retail and medical amenities.
  • Oviedo Mall’s redevelopment into a mixed-use community with 250 apartments, a senior living facility, and a 124-room hotel is reported to be completed by 2026.
Last Updated Date: 05 May 2022

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Last Updated Date: 05 May 2022

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