801 N Congress Ave, Boynton Beach, FL, 33426, US

Boynton Beach 91

Asset description

Jones Lang LaSalle (“JLL”) is pleased to exclusively offer this one-of-a-kind opportunity to acquire 91 contiguous acres in the heart of Boynton Beach, FL. With existing zoning of SMU (Suburban Mixed-Use District), Boynton Beach 91 (the “Site”) allows for a mixture of uses including residential, office, retail, and recreational uses offering a visionary developer the chance to create a landmark project. The immense scale and as-of-right zoning of the Site permit the development of at least 1,700 residential units as well as the ability to achieve higher density with the assistance of a development-friendly municipality in

Boynton Beach.

The Property is currently improved with a 892K SF shopping center generating $4.7M in NOI with all tenants on short-term or terminable leases, giving a purchaser broad ability to redevelop the Site. The REA governing the Property expires in 2025.

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Attributes

Building area Gross

82,834 sm

Occupancy

94.00%

Year built

1985

Land area Gross

1.24 ha (12,383 sm)

Media

Investment highlights

• A 91-acre development site in the center of Boynton Beach zoned SMU (Suburban Mixed-Use District) allowing for a mixture of uses including residential, office, retail, and other recreational uses.

• An opportunity to create a visionary development with as-of-right zoning allowing at least 1,700 residential units with the ability to achieve greater density through a development-friendly municipality.

• An 892K SF cash-flowing asset generating more than $4.7M in NOI with all tenants on short-term or terminable leases and all encumbrances expiring by 2025.

• Poised to benefit from the insatiable demand for large-scale residential development and other complementary mixed-uses in South Florida.

• Situated in the heart of Boynton Beach which boasts phenomenal demographics, a plethora of major area demand drivers, and development-friendly governance.