Price BEST OFFER
Leasable Area 274,195 SF
SVP & Regional Director
License No. 684841
Broker of Record
License No. CQ1052263 (FL)
Matthews Retail Group, Inc.
841 Apollo Street
#1 TOURISM DESTINATION IN THE WORLD
Orlando is the #1 tourist destination in the world, and one of the strongest metropolitan statistical areas in the U.S., leading the nation in tourism, employment, education, and growth. Orlando benefited from 72 million tourists in 2017, an increase from 68 million in 2016. Local attractions include Walt Disney World, Sea World, Universal Studios, and much more.
STRONG LEASING VELOCITY WITH EARLY LEASE EXTENSIONS AND RECENT RENEWALS
RECENT CAP-EX IMPROVEMENTS
The entire parking lot was seal coated and restriped in July 2018.
OVER 85% OF THE GLA IS NATIONAL/CREDIT RETAILERS
Investors benefit from predictable cashflow that is guaranteed by national, credit retailers.
ASSET IS LOCATED IN OPPORTUNITY ZONE
Opportunity Zones can provide investors accelerated stepped-up basis and tax incentives based on holding periods of 5, 7, and 10 years.
UPSIDE IN ANCHOR RENTS AND DEVELOPMENT POTENTIAL
Anchor tenants Rainbow and Grand’s feature below market rents with substantial upside. The asset also provides the opportunity for development of three additional retail buildings (19,000+ SF). See site plan on page 10 for additional development opportunities.
STRONG NOI GROWTH
Below market rents allow investors to increase their returns and achieve an exceptional CAGR growth rate over 10 years
EXCELLENT RETAIL SYNERGY AND TRAFFIC COUNTS
Highland Lakes is the dominant retail community center in the trade area with 83.8% occupancy and benefits from a powerful tenant mix that includes Ross Dress for Less, Marshalls, Burlington Coat Factory, K&G Menswear, Dollar Tree with traffic counts that exceed 72,500 VPD at the Colonial Drive / Hiawassee Intersection
NEW COMMUNITY CENTER
The county just purchased the 56,202 square foot building adjacent to Highland Lakes, along Hiawassee Road, and plans on investing over $4M into the building to develop a new community center which will increase traffic to center driving additional tenant sales.