DEALS

Deals

Lynn Haven Plaza – Lynn Haven, FL

THE OPPORTUNITY

  • Grocery Anchored center
  • 98% leased
  • Term remaining on core tenants:
  • Winn Dixie extended for 10 years in 2018
  • Dollar Tree has term until 2026
  • Strong Grocer Sales: Winn Dixie’s 2020 sales, $21M ($386psf)
  • Anchor Longevity: Winn Dixie has been at the center since 1985
  • Strong Leasing Momentum: 5 new leases signed over the past 12 months
  • Landlord Flexibility: Limited lease options for small shop tenants gives Landlord the ability to drive rents

THE HIGHLIGHTS

  • Center redeveloped in 2019
  • New roof
  • Façade work
  • Parking lot work
  • Traffic Count: Hwy 77: 29,216
  • Center is located along Lynn Haven’s primary retail corridor
  • Necessity based, internet resistant tenant lineup
  • Located at a lighted intersection
  • 1.68% vacancy rate in the market

THE DEAL POINTS

  • Square Feet: 88,832 SF
  • Cap Rate: Market to Determine
  • Price: Market to Determine
  • Year Built/Renovated: 1984/2019
  • NOI: $650968
  • Occupancy: 98%

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