Spruce Creek Shoppes_Property for Sale
Spruce Creek Shoppes_Property for Sale
17860 Southeast 109th Avenue, Summerfield, FL

Spruce Creek Shoppes

Asset Description

Jones Lang Lasalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire Spruce Creek Shoppes, a 100% leased 42,220 square foot strip center situated on ±6.82-acres of land along the highly-trafficked US Highway 27 (38,000 VPD) in Summerfield (The Villages), Marion County, Florida. 


Spruce Creek Shoppes is strategically located adjacent to the The Villages submarket, a 33,000-acre community home to +145,000 residents. The Villages is the #1 selling master-planned community in the U.S. and the nation’s fastest growing metro, with 4.7% population growth from July 2022-July 2023

 

Spruce Creek Shoppes represents the opportunity to acquire a well located unanchored retail asset with a tenured and established tenant base and upside potential via mark-to-market of below market in-place rents at pricing below replacement cost in one of the nation’s fastest growing metros – The Villages, Florida. 

 

Note: Spruce Creek Professional Center is being offered separately, but simultaneously by the same seller and can be purchased either individually or as a portfolio with Spruce Creek Shoppes.

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Attributes

Asking price
₩16,844,975,000
NOI
₩1,118,039,000
Building area net
3,922 m²
Occupancy
100%
Year built
1998
Land area net
2.76 ha

Media

Investment Highlights


  • Prime Location
  • Ideal Tenant Roster
  • Tenured, Well-Established Tenancy
  • Diverse Revenue Stream
  • Inflation Hedge With Annual Increases
  • Significant Leasing Momentum 
  • Demonstrated Ability To Increase Rental Rates Upon Lease Rollover
  • 18.5% / 43.7% (5-Year / 10-Year NOI Growth)
  • Significant Mark-To-Market Potential
Spruce Creek Shoppes 4_Property for Sale
Spruce Creek Shoppes 4_Property for Sale

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Spruce Creek Shoppes (0 Properties)

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Last updated
11 Jul 2024