DEALS

Deals

Ferry Pass Plaza – Pensacola, FL

THE OPPORTUNITY

  • Ross Dress for Less and Dirt Cheap anchored shopping center
  • 100% leased
  • Long-term tenancy with weighted-average tenure of 10 years
  • 62% of tenants have operated at the center for nine (9) or more years
  • Recent lease-up activity showcasing demand for space in this center
  • Well-balanced tenant mix provides stable flow of daytime traffic
  • Landlord Flexibility: Limited lease options for small shop tenants gives Landlord the ability to drive rents

THE HIGHLIGHTS

  • Excellent visibility from N. Davis Hwy with traffic counts of 29,216
  • Center is located along major retail corridor off Interstate 10 with major national tenants in the immediate area
  • Multiple access points with five (5) points of ingress and egress
  • Large hospital system on the north side of property provides a growing daytime population; new buildings under construction
  • Necessity based, internet resistant tenant lineup
  • Situated at a lighted intersection
  • Well-maintained property with clean façade and walkways

THE DEAL POINTS

  • Square Feet: 115,198 SF
  • Cap Rate: MTD
  • Price: MTD
  • Year Built/Renovated: 1980/1998
  • NOI: $830,911
  • Occupancy: 100%

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