Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

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Key Facts

Year Built 1991
Building Area
Land Area ()

Property Description

Jones Lang LaSalle (JLL) Net Lease Advisory is pleased to exclusively offer a premier net lease opportunity to acquire a single tenant Academy Sports located in Southside Square in Jacksonville, FL — one of the fastest growing cities in the nation. The property shares a signalized intersection with a 1.3M SF Class A office park directly north of a 1.1M SF Simon-owned mall. Academy Sports anchors Southside Square with other national anchors that generate a combined 2.2M customer visits per year to the center. Academy has ideal positioning along Southside Blvd (36,000 VPD) and the tallest signage in the center. Academy benefits from the 153,000 residents in a 5-mile radius and an extended trade area of St. Johns County running 40 miles south along I-95.

Investment Highlights

  • Academy Sports has 9 years of term with minimal landlord duties for roof & structure (roof warranty through Nov-28)
  • Academy pays $9.75 PSF and nearby recent anchor rents are in the double digits and high-teen’s
  • Academy Sports benefits from exceptional cross-shopping from national leading retailers in Southside Square including Target, Aldi, Michaels, HomeGoods, and Pet Supermarket. The center has 2.2M annual customer visits and is ranked #16 out of 155 centers in a 15-mile radius (Placer.ai)
  • High intrinsic land value as the 5.4-acre Academy parcel has incredible visibility as the closest anchor space along Southside Blvd (36,000 VPD)
  • A towering pylon sign showcases Academy Sports on the tallest signage in the shopping center
  • Academy Sports shares a signalized intersection with Gramercy Woods, a massive 1.3M SF Class A office park featuring Bank of America (885K SF), Aetna (162K SF), and SS&C Technologies (73K SF); each with 10+ years remaining on their leases
  • Academy Sports had 411K visits over the past 12 months—almost double the 219K customer visits seen at the Academy Sports in Orlando’s leading, renowned Millenia trade area (Placer.ai)
  • As a chain, Academy achieved revenue of $4.9 billion in 2018, up 4.3% from the prior year (Forbes) 153,000 residents earn an average household income of $88,900 within 5 miles and the population is projected to grow 7.7% through 2025. The only national sporting goods stores are located over 4 miles north
Last Updated Date: 02 Nov 2020
Michael Brewster
Michael Brewster
Director, Capital Markets
License details
FL-SL3280018
Brad Peterson
Brad Peterson
Senior Managing Director, Orlando Office Head
License details
FL-BK3162030 AL-000088844-0 GA-256948 NC-323216

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Last Updated Date: 02 Nov 2020

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