Description

Jones Lang LaSalle, Inc. (“JLL”) is pleased to exclusively offer the opportunity to acquire Bear Lake Shoppes, a 93% leased, 18,348 SF unanchored strip center in Apopka, Florida. The asset is strategically located along East Semoran Blvd (57,500 VPD), a major east-west artery connecting directly to Orlando, and is anchored by a diversified, internet-proof roster of national and regional tenants that spans essential-service, medical, and quick-service categories.

National Tenants – including Domino’s, Geico, and Original Mattress Factory – represent more than 76% of GLA, providing investors with durable, diversified cash flow. More than 50% of GLA has recently been renewed or placed under new lease, reflecting strong tenant demand and retention. Bear Lake Shoppes also sits within a dense and affluent trade area, with a 3-mile population of 95k and AHHI of $118K.

Bear Lake Shoppes offers investors a rare opportunity to acquire a diversified, essential-services neighborhood center with durable in-place income, embedded value-add through lease-up of the remaining vacancy, and outsized growth potential in one of Orlando’s most dense and affluent retail corridors.

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Attributes

Building area net

1,705 sm

Occupancy

93.3%

Year built

2008

Average Tenure

+10 Years

Media

Investment highlights

+76% of GLA is leased to national tenants, creating a durable cash flow
Robust tenant retention and demand, with +50% of GLA recently renewed or executing new leases
Proven tenant demand with recent lease signed at +45% rent spread over previous tenant
Value creation opportunity via lease up of remaining vacancy with +4.9% CAGR
Strategically positioned along East Semoran Boulevard (57,500 VPD), a major east-west artery