Brightline Parking Garage Sale-Leaseback - Fort Lauderdale, FL

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the fee-simple interest in the single-tenant Brightline Trains Florida LLC (“Brightline,” “Company,” or “Tenant”) parking garage located at 300 NW 2nd Street in Fort Lauderdale, FL. The 1.0-acre Property will be long-term leased via sale-leaseback to Brightline (S&P: BB-), the only privately-owned and operated intercity passenger railroad in the United States. The Tenant, headquartered in Miami, FL, experienced its first full year of operations in 2024, successfully carrying over 2.8 million passengers. Today, Brightline operates a 235-mile high-speed rail system linking key Florida destinations and continues to ramp-up to stabilization with profitability expected to significantly increase in the years to come.

Upon close of this transaction, Brightline will commit to a 25-year absolute NNN lease with 3.00% annual contractual rent escalations and four x 5-year renewal options – creating a completely passive, growing, long-term income stream for the landlord.