ASKING PRICE: $4,631,220
CAP RATE: 5.0%
- STRATEGICALLY POSITIONED: New construction (commencing April 2017) located at shopping center entrance near the signalized intersection of busy Pines Blvd. and Hiatus Rd. (75K ADT combined). Outparcel to Target, HomeGoods, and Pembroke Lakes Mall (1M+ SF GLA; super-regional mall with 125 national retailers and restaurants); adjacent to Home Depot-anchored Pembroke Lakes Square. Less than one (1) mile from upcoming Pembroke Pines City Center development (350K SF lifestyle center), and less than three (3) miles from I-75.
- STRONG, RECOGNIZED TENANTS: Starbucks has a prominent global presence with 24K+ retail stores in 70countries. Pie Five Pizza has 98 locations in 24 states (and 400 more under contract), and has been named a “2015 Best Franchise Deal” by QSR Magazine. Experienced franchisee with multiple McDonald’s locations.
- QUALITY INVESTMENT: 100% occupied to tenants on new, 10-year leases with built-in rent increases and options. Minimal landlord responsibilities. No state income tax
in Florida provides a low tax burden for the investor.
- LARGE, AFFLUENT TRADE AREA: Over 131,000 households and 390,000 people, with an average household income of $77K+, within five (5) miles of the property. As the 10th most populous city in Florida, the Pembroke Pines trade area benefits from nearly 1M people with significant disposable income.
- EXCELLENT MARKET LOCATION: Pembroke Pines, located between Ft. Lauderdale and Miami, is a principal city of the Miami MSA (6M+ people as of 2015; FL’s largest MSA). Its convenient location offers easy accessibility to primary highways and interstates, key employment centers, retail/commercial destinations, and more.
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