TRI-CITIES SHOPPING PLAZA - Capital Markets
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TRI-CITIES SHOPPING PLAZA Exclusive Offering Mount Dora (Orlando), Florida Holliday Fenoglio Fowler, L.P. (“HFF”),as exclusive broker is pleased to offer the opportunity to acquire Tri-Cities Shopping Plaza, the 78,452 square foot investment-grade community center located in the booming retiree community of Mount Dora, Florida
TRI-CITIES SHOPPING PLAZA EXECUTIVE SUMMARY
Orlando
25 MILES
Lake Gertrude
OPENING SPRING 2018
12 SCREENS
TRI-CITIES SHOPPING PLAZA
- Approved -
64-Bed Certus Senior Living
1
TRI-CITIES SHOPPING PLAZA EXECUTIVE SUMMARY
78,452 13.2 94.0% 2.5M 7.3 Years
SQUARE FEET ACRES OCCUPANCY MSA POPULATION AVERAGE ANCHOR TERM
Unit Tenant SF
Investment-Grade Anchors Ross Dress for Less Papa John’s
1 TJ Maxx 23,000 SF TJ Maxx (S&P: A+) and Ross Dress for Great store performance from Ross Dress Papa John’s excellent store sales in 2016
Less (S&P: A-) contribute 57% of the for Less after opening in July 2015 and resulted in a 3.6% health ratio and they expire
2 Ross Dress for Less 25,500 SF Property’s revenue. Combined with achieving a sub-8% health ratio in 2016. in 2020 with no remaining renewal options,
Dollar Tree the average anchor term presenting an opportunity to push rent.
3 Dollar Tree 10,375 SF remaining is 7.3 years, providing strong
cash-flow stability well into the future. Immediate Upside
4 Papa John’s 1,600 SF Immediate upside in the
lease-up of 4,700 square
5 China 8 Restaurant 1,200 SF feet of available space.
6 Available 2,000 SF
8 Uptown Nails 1,200 SF
Newly Redeveloped
9 Available 900 SF Ross Dress for Less, TJ Maxx,
2
3
1
and Dollar Tree backfilled a
10 Available 1,800 SF
former Kmart, accompanied by
11 Painting With a Twist 2,400 SF a new facade, landscaping and
NC-1
renovated parking lot.
4
6
5
10
12
11
12 LaRue Kay Salon 1,200 SF
9
8
14 KFC 2,280 SF
EUD
15 Lake Regional Urgent Care 5,000 SF
ORA
RD
Ample Parking
486 parking spaces results in an ample
6.2 spaces per 1,000 square feet.
SEPARATELY
NC-2
PARCELED
15
14
SEPARATELY
PARCELED
US-441 S (44,000 VPD) 441
500
Low Tenant Rollover KFC
Only 6.1% of the GLA expiring through 2022 Expiring in 2023 with only one
and strong leasing momentum with 80% of remaining renewal option.
the GLA leased since 2014. 3 tenants have Tenant has renewed 4 times.
been at the Property for more thant 17 years.
2
TRI-CITIES SHOPPING PLAZA EXECUTIVE SUMMARY
HIGHLY DESIRABLE ORLANDO MSA LOCATION
• The Orlando MSA ranked #2 in the U.S. in terms of percentage job growth over the past year with
an employment growth rate of 3.3% (national average was 1.5%).
• Orlando’s resident base of 2.5 million is expected to grow 8.3% over the next 5 years.
• Located in booming retiree community of Mount Dora with 40.1% of the residents aged 55+ within
5 miles, nearly 50% greater than the Orlando MSA average.
• Significantly extended customer drawing radius with the nearest Ross Dress for Less and TJ Maxx
stores located 16+ miles away.
PROPERTY SUMMARY
Address: US Highway 441 & Eudora Road, Mount Dora, Florida 32757
GLA: 78,452 SF
Lake Eustis EUSTIS
SQUARE S.C 19 Year Built / Ren: 1988 / 2015
44
Occupancy: 94.0%
S. BAY STREET
EUSTIS PLAZA
DORA PLAZA Year 1 NOI: $839,000
LAKE HILLS PROPOSED 20,000 SF
PLAZA
THE SHOPPES AT
EUSTIS VILLAGE
Debt: Offered Free & Clear
EUSTIS VILLAGE
LOCH LEVEN
DEMOGRAPHICS
LANDING
POPULATION 1-Mile 3-Mile 5-Mile Orlando MSA
THE MARKETPLACE
Waterman
2022 Projection 6,285 38,370 66,382 2,666,264
2017 Estimate 5,913 36,330 62,446 2,462,444
SANDY RIDGE CROSSING
TRI-CITIES Opening Spring 2018 % Growth 2017-2021 6.3% 5.6% 6.3% 8.3%
SHOPPING PLAZA Available Anchor Pad
48,000 SF
HOUSEHOLD INCOME 1-Mile 3-Mile 5-Mile Orlando MSA
O L D US
HW Y 4 41
Average $57,424 $58,418 $64,241 $71,358
VE
Mount Dora Median $39,860 $42,828 $45,897 $51,039
D RI
Supercenter
Historic Downtown
AN
UNC
N. D
N. ORANGE BLOSSOM TRAIL
Lake Dora
INVESTMENT SALES
BRAD PETERSON WHITAKER LEONHARDT
3-M Sr. Managing Director Director
ILE bpeterson@hfflp.com wleonhardt@hfflp.com
RAD ORLANDO - 25 MILES T 407.745.3910 T 407.745.3916 hfflp.com
IUS 300 S Orange Ave
Lake Beauclair
MICHAEL BREWSTER THOMAS ISOLA Suite 1250
Associate Analyst Orlando, FL 32801
mbrewster@hfflp.com tisola@hfflp.com T 407.745.3900
Holliday Fenoglio Fowler, L.P. (“HFF”) a Florida licensed real estate broker.
T 407.745.3911 T 407.745.3936
©2017 Holliday Fenoglio Fowler, L.P. (“HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF).
HFF operates out of 24 offices and is a leading provider of commercial real estate and capital markets services to the global commercial real estate
industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity
placement, advisory services, loan sales and commercial loan servicing. For more information, please visit hfflp.com or follow HFF on Twitter @HFF.
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