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Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer an opportunity to acquire St. John’s Town Center North (the “Property”), a 113,139 square foot Publix-anchored shopping center with three outparcels located adjacent to one of Florida’s leading mixed-use destinations, St. John’s Town Center. Anchored by a high-volume Publix and the #1 Total Wine store in FL (#9 nationally), in terms of traffic volume, St. John’s Town Center North is currently 100% leased to a carefully curated line-up of national and regional retailers, restaurants, and service providers. Situated in the heart of the St. John’s Town Center trade area, the Property offers 1,200 feet of frontage along Town Center Parkway North with 44,000 vehicles passing each day. The immediate surrounding area has seen explosive growth with over 6,880 residential units added since 2013, 7.7M square feet of office space, and 4.8M square feet of best in class retail with over 50 unique to market retailers including Ikea, REI, Top Golf, Nordstrom, Tesla, and iFly to name a few.
This offering represents an exceptional opportunity to acquire a dominant grocery-anchored shopping center with secure and growing cash flows, tenured tenancy that performed well through the pandemic, and value enhancement potential via the sale of the three outparcels.
- Publix Anchored Shopping Center - Strong performing Publix grocery store with sales above average and growing
- #1 Total Wine in Florida and #9 in the US per Placer.ai - Recently executed a long term lease renewal
- Immediately Adjacent to St. John's Town Center - #1 shopping destination between Orlando and Atlanta wit 9.9M visits in 2020
- Secure Income Stream - 72.2% of the Property's income is derived from Publix, Total Wine, and other national retailers
- Growing Cash Flow - Projected NOI growth of 18.6% and CAGR of 1.7% over 10 years
- Value Enhancement Opportunity - Potential to sell all three outparcels to reduce basis and capitalize on the strong single-tenant net lease market