Heritage Square

Jones Lang LaSalle, Inc. (“JLL”) is pleased to offer the opportunity to acquire Heritage Square, a 60,287 SF, recently developed Publix-anchored neighborhood center in Palm Bay, Florida. The Property s strategically located along St. Johns Heritage Parkway, a rapidly growing corridor currently undergoing a major roadway expansion, and is anchored by the only Publix within a 5-mile radius, insulating the property from direct grocery competition in the immediate trade area. Publix represents more than 67% of center revenue on a new lease with more than 18 years of term remaining, providing investors with long-term, bond-like income backed by one of the strongest and fastest growing grocers in the nation. Heritage Square is also positioned at the center of one of Florida’s fastest growing trade areas, with 11,000 new homes approved or under construction and an AHHI of +$115K in the immediate trade area.

Heritage Square offers investors a rare opportunity to acquire a 2025 construction, Publix-anchored neighborhood center with minimal near-term capital needs, durable in-place income, and outsides embedded growth in one of the nation’s top ranked “boomtowns.” As a newly constructed center, the Property also carries a full depreciable basis, allowing investors to maximize deprecation benefits and reduce tax liability throughout the hold period.