Las Olas Centre_Pand te koop
Las Olas Centre_Pand te koop
Fort Lauderdale, FL, US, Americas

Las Olas Centre

Portefeuille beschrijving

Jones Lang LaSalle, Inc. (“JLL”) is pleased to present the opportunity to acquire Las Olas Centre (the “Property”), a 470,810 square foot, trophy mixed-use asset in the epicenter of one of South Florida’s most dynamic markets: the Fort Lauderdale CBD. The Property is currently 76% leased to a unique roster of tenants with a 6.5-year Weighted Average Lease Term. Las Olas Centre offers a diverse income stream that includes national and boutique office tenancy, credit-rated retail tenancy, and substantial parking revenue with significant upside potential. The Property accounts for 52% of the Tier I vacancy in the Fort Lauderdale CBD, which has a historical average occupancy above 90%, providing a significant lease-to-core opportunity. With two class A office towers and a retail promenade spanning two full blocks on Las Olas Boulevard, Las Olas Centre serves as the locus around which Fort Lauderdale’s vibrant work, live, play ecosystem revolves, offering convenient accessibility and visibility for a rapidly growing population.

 

The Offering presents an exceptional opportunity to acquire a mixed-use asset with diversified income and a myriad of opportunities for future value creation. The seller is prepared to offer better than market first lien financing to qualified investors. Please contact the JLL deal team to learn more.

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Attributen

Netto gebouwoppervlakte
43.740 vierkante meter
Aantal gebouwen
2
Bezettingspercentage
68%
Gebouwkwaliteit
A
Las Olas Centre (2 Eigendommen)
Las Olas Centre (2 Eigendommen)

Media

Investeringskenmerken

  • Lease-to-Core Asset – 25% Mark-to-Market Opportunity and 102% NOI Growth Over the Next Five Years
  • Crown Jewel of Fort Lauderdale - Forever Las Olas Location with 650+ Feet of Frontage on Las Olas Blvd Offered at a Significant Discount to Replication Cost
  • Prestigious Tenant Roster with a 12.2 Year WATT and 50% Investment Grade Tenancy (Wells Fargo: 8% of RSF, Morgan Stanley: 8% of RSF, Techtronic Industries: 7% of RSF)
  • Powerhouse Proven Restaurant Concepts with Two Four-Star Restaurants and the CBD’s Only Starbucks
  • Poised for Rental Rate Growth from New Construction and Tenant Demand, Fort Lauderdale CBD has Experienced 22%+ Rental Rate Growth since 2020
  • Critical Mass for Retail Tenant Curation with Unmatched Retail Frontage on Las Olas Blvd - Provides Optionality to Reimagine Retail Promenade or Sell off as Condominium Space
Las Olas Centre 4_Pand te koop
Las Olas Centre 4_Pand te koop

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Laatst bijgewerkt
Jun 11, 2024