DEALS

Deals

Sebring Square – Sebring, FL

THE OPPORTUNITY

  • Winn Dixie anchored shopping center in bustling Florida market
  • Only grocery anchored shopping center in the market with small shops on site (Walmart and Publix are standalone stores)
  • Great access and visibility
  • Winn Dixie recently added ten years of term to their lease and incorporated their WD Liquors concept, adding stability to their historical 35-year tenancy
  • Strong anchor sales and extremely low health ratios give long term viability to tenants
  • Over 30% of GLA with 10 years of term and 50% of GLA with 5 years or more remaining
  • Majority of roofs under warranty

THE HIGHLIGHTS

  • Located in Florida, an income tax free state and one of the highest growth states in the country over the past 10 years
  • South Central Florida location convenient to Orlando, Tampa, Ft Myers, Palm Beach, and other South Florida cities
  • Winn Dixie health ratio of under 2%
  • New 10-year lease with Humana and Grace & Heart in 2020
  • Neighborhood center with long track record of operating history
  • 43,063 ADT at the intersection of Sebring Pkwy and US Hwy 27
  • Over 85% of the state‚Äôs population is within 150 mile radius
  • Sebring boast a significant population of retirees creating opportunities for retailers to capture a loyal and repeat customer base

THE DEAL POINTS

  • Square Feet: 152,297 SF
  • Cap Rate: 7.3%
  • Price: $15,650,000
  • Year Built/Renovated: 1938/2016
  • NOI: $1,146,570
  • Occupancy: 97%