City Furniture SLB - Pembroke Pines, FL_Immobilie zu verkaufen

11249 Pines Boulevard, Pembroke Pines, FL, 33026, US

City Furniture SLB - Pembroke Pines, FL

Objektbeschreibung

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the fee-simple interest in the single-tenant CITY Furniture retail showroom located at 11249 Pines Blvd, Pembroke Pines, FL (the “Property” or “Asset”). The Property will be long-term leased via sale-leaseback to CITY Furniture, a prominent furniture retailer with a strong and growing presence throughout Florida.

Upon close of this transaction, CITY Furniture, Inc. (the “Tenant”) will commit to a 15-year absolute NNN lease with 2.00% annual contractual rent escalations and four x 5-year renewal options – creating a completely passive, growing, long-term income stream for the landlord.

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Eigenschaften

Angebotspreis

12.954.000 €

Rendite

7,25 %

NOI

940.000 €

WALT

15 Jahre

Gebäudefläche brutto

5.450 m²

Baujahr

1994

Jahr der Renovierung

2016

Grundstücksfläche brutto

2,2 Hektar

Medien

Investment-Highlights

EXCELLENT LOCATION ALONG PINES BLVD: Situated on Pines Blvd, Pembroke Pines' busiest retail corridor with 74,200 VPD at the intersection and adjacency to many blue-chip retailers including Target, HomeGoods, JOANN Fabrics, Restoration Hardware, Havertys Furniture, Hobby Lobby, the Pembroke Lakes Mall, amongst others.

IDEAL RETAIL DESTINATION IN SOUTH FLORIDA: Pembroke Pines features a high-income demographic, with average household incomes of $143,100 within a 5-mile radius, which aligns well with CITY Furniture's target consumer profile.

FAVORABLE LEASE ECONOMICS: Upon close of this transaction, the Tenant will commit to a 15-year absolute NNN lease with rare 2.00% annual contractual rent escalations – creating a completely passive, growing, long-term income stream for the landlord from a committed tenant.

TOP PERFORMING LOCATION: Per Placer.ai, this showroom is one of CITY Furniture's top 5 performing locations when compared to all of its 26 retail locations, representative of the Tenant's long-term commitment to this site.

STRONG BRAND RECOGNITION ONLINE AND IN FLORIDA: With 26 showrooms and strong online presence, CITY Furniture has created a competitive advantage amongst regional competitors, resulting in being named #20 in Furniture Today’s Top 100 U.S. Furniture Stores 2024 Edition and the 13th Top Place to Work in South Florida by Top Workplaces.

IN-MIGRATION TO FLORIDA PERSISTS: In 2023, Florida had the second highest net migration of any U.S. state and welcomed 940,000 residents.

City Furniture SLB - Pembroke Pines, FL 4_Immobilie zu verkaufen

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