Description

Jones Lang Lasalle Americas, Inc. (“JLL”) in partnership with JLL Puerto Rico Realty & Co. S en C, a Puerto Rico licensed real estate brokerage firm, is pleased to offer the opportunity to acquire Manatí Centro Plaza, a 115,388 SF neighborhood shopping center strategically located in the heart of Manatí, Puerto Rico. The Property is anchored by a diverse lineup of

strong-performing national and regional tenants, including Marshalls, Grand Way, and Wendy’s recently exercising renewal options offering secure, long-term income supported by NNN leases and built-in rent escalations.

The offering presents an outstanding opportunity to acquire a proven retail asset with synergistic tenant mix, embedded mark-to-market, and unmatched visibility in one of Puerto Rico’s most vibrant and high-growth commercial corridors.

Andy Carlson

Broker of Record

License #: C17494

...

Attributes

Building area net

115,388 sf

Occupancy

100%

Year built

2001

Land area net

11.61 acres

WALT

4.2 years

Parking spaces

686

Average Tenure

19.4 Years

Media

Investment highlights

PRIME MAIN & MAIN POSITIONING - at the intersection of PR-2 and PR-149, Manatí’s primary east-west and north-south corridors, with over 1,250 SF of prominent frontage
VALUE CREATION OPPORTUNITY - via MTM of in-place rents ~15% below market
RECENT RENEWALS DEMONSTRATE TENANT LOYALTY - with Marshalls, Grand Way, and Wendy’s representing 42.5% of the GLA exercising their options
PROXIMATE TO MAJOR DEMAND DRIVERS - including Doctors’ Center Hospital (3rd largest system on the island), Atenas University, Casino Alantíco Manati, and major pharmaceutical companies
LIMITED CAPITAL REQUIREMENT - with over $925K of capital invested since 2022, including fully restored and repaved parking, facade repairs, substation maintenance, and a new generator