Rogue Valley Mall - Sale
1600 N Riverside Ave, Medford, OR, 97501-4652, US
644,332 sf
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
$12,250,000
NOI
$814,000
Building area net
42,220 sf
Occupancy
100%
Year built
1998
Land area net
6.82 acres
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
Contact brokers
Spruce Creek Shoppes (0 Properties)
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Last updated
Aug 20, 2024
