Lincolnshire Commons
970 Milwaukee Ave, Lincolnshire, IL, 60069, US
Description
Jones Lang LaSalle, Inc. (“JLL”) is pleased to exclusively offer the opportunity to acquire Blue Gables Plaza, a 99.2% leased, 53,667-square-foot neighborhood retail center strategically positioned along the Coral Way corridor in Miami, Florida, with immediate proximity to the Palmetto Expressway (271,000 average annual daily traffic).
The Property represents a rare infill value-add opportunity in one of Miami’s most supply-constrained submarkets. Currently operating on a fully gross lease structure at significantly below-market rents and held by a long-term private owner, the asset presents a compelling repositioning opportunity.
Blue Gables Plaza presents investors with a highly compelling value-add opportunity to acquire a neighborhood retail center with near-term lease expirations and gross lease structures that provide a clear runway to significant value creation in one of Miami’s most supply constrained retail corridors.
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Attributes
Building area net
4,987 sm
Occupancy
99.2%
Year built
1985
Land area net
1.82 ha
Below Market Rents
42.5%
WALT
1.4 years
Media
Investment highlights
- Gross to triple net lease conversion and significantly below market rents
- Ability to roll tenants quickly
- Priced significantly below replacement cost
- Irreplaceable location along the historic Coral Way
- Immediate access to the Palmetto Expressway (SR 826), and expanded trade area
- Potential redevelopment in high barrier to entry market
Contact brokers
Blue Gables Plaza (0 Properties)
