Airpark Plaza Shopping Center

5715 Northwest 7th Street, Miami, FL

Description

JLL as advisor is pleased to present the Airpark Plaza Shopping Center, a 100% leased 171,443 square foot Publix & Burlington anchored community shopping center located in Miami, FL, the country’s preeminent retail market.

Airpark Plaza presents an exceptional opportunity to acquire a best-in-class trophy retail asset in Miami, Florida – a prospect that rarely emerges in this highly competitive market. The Property features a top performing Publix and Burlington, and no tenant purchase options. The Property boasts a dynamic and well-established tenant roster of national tenants (86% of GLA) with impressive sales offering stable and secure long-term cash flows with significant upside through mark-to-market opportunities.

The property occupies a strategically superior position within Miami’s dynamic retail landscape, offering exceptional connectivity to primary thoroughfares including The Dolphin Expressway, Palmetto Expressway, and I-95, with immediate proximity to transformative demand generators and a highly dense, affluent population of over 170,000 residents with $107,000 average household income within 3 miles.

Opportunity to acquire a generational 171,443 SF Publix-anchored center without tenant purchase rights featuring a top performing Publix and Burlington, outstanding tenant tenure, and compelling value creation through mark-to-market potential in one of Florida’s highest growth markets

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Attributes

Building area net

171,443 sf

Occupancy

100%

Year Built / Renovated

1971 / 2005

Land area net

12.6 acres

WALT

2.4 years

Parking spaces

603

Placer.ai Visits

2.9M Annual visits

Traffic Counts

68,000 VPD Combined

Media

Investment Highlights

ROBUST ANCHOR PERFORMANCE with Publix and Burlington combined sales of over $65M+
EXCEPTIONAL TENANT COMPOSITION with best-in-class national retailers accounting for 86% of leased GLA and high performing local tenants averaging over 13.6 years of tenure.
LIMITED FIXED RATE RENEWAL OPTIONS enable over 52% of inline GLA to roll to market upon expiration. This figure excludes outparcels, which also lack fixed rate options, with TD Bank being 30.9% below market.
SIGNIFICANT VALUE ENHANCEMENT with in-place rents 43.1% below market leading to a 4.6% year 5 and 3.3% year 10 CAGR.
EXTREMELY RARE OPPORTUNITY to acquire a generational infill 12.6-acre grocery anchored asset with NO TENANT PURCHASE OPTIONS in the most coveted retail market in the country.