Description

JLL is pleased to exclusively offer the opportunity to acquire Promenade at Coconut Creek, a 296,419 SF LEED Silver-certified, open-air mixed-use lifestyle center situated on 22.94 acres at the commercial core of North Broward County, Florida. The Property is 76.6% leased to a diverse mix of best-in-class retailers, restaurants, fitness, entertainment, and office tenants — anchored by an 11-screen Silverspot Cinema, Guitar Center, and DSW — and is offered free and clear of debt, guided to the high $90M range, stabilizing to a 9.5% return on cost by Year 5.

The Offering presents investors with durable, experiential cash flow paired with a clear, multi-layered value-add thesis: lease-up of available space, mark-to-market of in-place leases averaging 35% below current market rates, and contractual rent escalations across 84% of existing GLA — collectively projecting +119% NOI growth and a 21.6% 5-year CAGR.

...

Attributes

Building area net

249,429 sf

Occupancy

76.6%

Year built

2008

Land area net

22.94 acres

WALT

4.6 years

Parking spaces

1,457

Media

Investment highlights

Zero Competitive Supply - The only open-air mixed-use lifestyle center in North Broward County
+119% Projected NOI Growth Over 5 Years — Lease-up, mark-to-market, and embedded escalations across 84% of GLA
Irreplaceable Experiential Tenancy — Silverspot Cinema, Cheesecake Factory, Sephora, Cooper's Hawk, and 40+ best-in-class operators
Proven Re-Merchandising Momentum — 28,296 SF of new leasing in 30 months at positive rent spreads; active 2026 pipeline in place
2,360+ Rooftops at the Front Door — Phase One of $1B+ Mainstreet Coconut Creek broke ground late 2025, directly adjacent
Dense, Affluent Trade Area — 406,000 residents, $113,748 avg HHI, $12.3B buying power within 15 minutes