Grand Bay Plaza

Jones Lang Lasalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire Grand Bay Plaza, a 77,810 square foot neighborhood shopping center situated on ±17.3-acres of land along heavily trafficked US Highway 41/Tamiami Trail (51,500 VPD) in Fort Myers, Lee County, Florida. The Property is 98% leased to a high-quality tenant roster led by a $35.2 million ($786 PSF) Publix and also features a complementary mix of shop tenants, including Sherwin Williams, Publix Liquors, Fantastic Sam’s, Subway, The UPS Store, Pinch-a-Penny, Papa John’s and Coast Dental. National tenants comprise 82% of the GLA and account for 73% of total revenue.

The Property’s location along the area’s primary thoroughfare, Tamiami Trail, and its proximity to the +15,000-student Florida Gulf Coast University, numerous upscale residential communities, as well as the San Carlos, Shadow Wood Preserve and Estero Country Clubs and two new adjacent multifamily development projects totaling 418 units makes it the best-positioned neighborhood grocery-anchored center in the submarket. 

Grand Bay Plaza represents an opportunity to acquire a dominant Publix-anchored neighborhood center in one of Florida’s top growth markets with a secure revenue stream and strong NOI growth potential at pricing significantly below replacement cost.