I-Drive Portfolio | Pizza Hut, K9 Resorts, Plaza at 7052_Property for Sale

7052 International Drive, Orlando, FL, 32819, US

I-Drive Portfolio | Pizza Hut, K9 Resorts, Plaza at 7052

Asset description

JLL Capital Markets has been exclusively retained to arrange the sale of the portfolio at 7024-7060 International Drive, consisting of Pizza Hut, K9 Resorts and Plaza at 7052. The portfolio totals 32,677 square feet located on 3.88 total acres in Orlando, Florida (the “Properties”). Located in the heart of the International Drive corridor, the properties afford a rare opportunity in the highly sought-after Tourist Corridor of the Orlando retail market.

The subject properties are located on International Drive, one of the most dense retail and hospitality corridors in the entire state of Florida and the greater United States, where most tenants are generally top performing locations for their respective chains. Located on the northwest corner of I-Drive & Carrier Drive, the subject property is located in the heart of the International Drive corridor, surrounded by major hospitality, multifamily and retail redevelopments.

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Attributes

Buildings

Building area net

3,036 sm

Year built

1978

Occupancy

89.5%

Media

Investment highlights

Plaza at 7052 has a 2.17-year WALT, offering value-add potential at lease expiry through tenant replacement or significant rent increases for below-market leases.
K9 Resorts & Pizza Hut have new 10-year NNN leases with 3% annual increases, two 5-year options, and no landlord responsibilities. Recent property improvements include new roofs and parking lot sealing and re-striping.
Pizza Hut has been a long-term tenant in the space for 47 years! The lease is guaranteed by CFL Pizza, LLC or Celebration Restaurant Group, which owns 96 Pizza Huts in Central Florida, showing regional commitment.
Located in a prime tourist area, the Properties are surrounded by over 6,100 hotel rooms within a half-mile radius, attracting nearly 50,000 visitors to the center in the past year.