The Shoppes on Western

• Established Tenants with New Long-Term Commitment: Three out of the four tenants have been at the center since it was developed in 2014, demonstrating strong site retention. The largest tenant recently executed a brand-new 10-year lease through 2035, securing over 52% of GLA through the next decade.
• Service-Oriented Tenant Mix: The Shoppes on Western features a complementary blend of food & beverage, health & wellness, and personal care tenants, categories that drive repeat visits and exhibit strong resistance to e-commerce disruption.
• Attractive Retail Design: Features prominent signage, ample parking, and high visibility, ideal for tenant success and consumer convenience.
• Full Occupancy: 100% leased providing income from day one.
• Strip Center Intrinsics: The Shoppes on Western embodies the low risk associated with smaller, leasable tenant spaces.
• Essential Retail Exposure: Tenancy profile is predominantly service-oriented, offering resistance to online retail disruption.
• Largest Tenant Below Market Rent: The largest tenant taking up more than 50% of the total GLA is paying below market rent, which presents a future mark-to-market opportunity and protects your downside in the event of tenant turnover.
• Premier Retail Corridor: Located along Western Boulevard, Jacksonville’s primary retail corridor, surrounded by a dense concentration of national retailers, QSR tenants, and neighborhood-serving centers.
• Strong Accessibility and Visibility: Excellent frontage on Western Boulevard with approximately 40,000 vehicles per day, providing strong exposure for retail tenants.
• Military Driven Economy: Jacksonville is anchored by the Marine Corps Base Camp Lejeune, one of the largest military installations in the world, providing a stable employment base and consistent demand for retail, housing, and services.
• Dense Population Base: Strong residential density, which supports neighborhood retail demand.
• Growing Trade Area: The surrounding 5-mile trade area is projected to grow by over 2,700 residents through 2030, driven by Jacksonville’s role as the commercial hub of Onslow County and its proximity to Camp Lejeune.
• Affluent Market: The average household income within a 5-mile radius exceeds $78,400, supported by a mix of military, government, and private-sector employment.
• Major Planned Development: The planned ±400-acre Uptown Jacksonville Sports & Entertainment Complex at the northern end of Western Boulevard is expected to bring additional visitors, traffic, and economic activity to the corridor, further strengthening the long-term outlook for retail along Western Boulevard.