Sun City Commerce Center

351 30th Street Southeast, Ruskin, FL, 33570, US

Description

JLL is pleased to exclusively offer the opportunity to acquire Sun City Commerce Center, a light industrial property totaling 91K SF located in the Tampa MSA. The Property is 100% occupied by four tenants, with average suite sizes of 23K SF and 5.0 years of WALT remaining.

Sun City Commerce Center offers investors the opportunity to acquire a fully leased industrial property with below market leases at a discount to both replacement cost and recent Tampa transactions that offers strong contractual income growth, diversified tenant exposure, and minimal near-term lease rollover risk within one of the top performing industrial markets in the state experiencing a surge of leasing from logistics tenants.

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Attributes

Building area net

8,476 m²

Land area gross

2.35 ha

Occupancy

100%

WALT

5 years

Year built

2008

Mark-to-Market

18%

Media

Investment Highlights

Strong in-place tenancy with 18% mark-to-market opportunity with 5 years WALT remaining and above market annual rent increases averaging 3.7%.
7.8M SF of industrial within 10 miles but only two buildings (inclusive of the Property) that can accommodate tenants < 20,000 SF. Collectively, these properties are 98% leased and achieve top of market rents exceeding $14 PSF.
Strategic Tampa location at the I-75 and College Ave interchange in an emerging industrial pocket with existing facilities occupied by Amazon, RXO, and ID Logistics.
Functional rear-load design with 150' building depth allowing for ideal space flexibility. This Class A facility was delivered in 2008 with above standard specifications including 9% office finish; fully AC warehouse, 125' truck court, and 24' clear heights.
Bankable existing cash flow supported by long-tenured tenancy averaging 6.2 years.