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JLL Capital Markets, as exclusive broker, is pleased to offer the exceptional opportunity to acquire Gateway Plaza, a 214,489 square foot open-air shopping center anchored by Floor & Decor, Ashley Furniture, Collier’s Furniture Expo (sublease), Bed Bath & Beyond, and Michaels, located directly adjacent to the heavily-trafficked Interstate-4 in Sanford (Orlando), Florida, one of the most desirable and affluent communities in Florida.
- Orlando MSA – Florida’s 3rd Largest and Fastest Growing MSA with 2.7 Million Residents, Representing 62% Population Growth Since 2000
- Booming Lake Mary & Sanford Submarket with an Average Household Income Exceeding $100,000 Within 3 Miles
- Most Dominant Retail Trade Area in Northern Orlando Acting as a Regional Center of Gravity for Category-Leading Tenants Between Altamonte Springs (9.7 Miles South) & Orange City (10.3 Miles North)
- Enhanced Super-Regional Connectivity Due to the Nearby Completion of SR-429 & SR-417 Toll Road in 2023, Providing Excellent Access to the Entire Orlando MSA
- Very Low, Below-Market Rent Levels with a Weighted Average Anchor & Shop Tenant Base Rent of $8.25 PSF and $17.06 PSF, Respectively
- Strong Tenant Renewal History as 6 of 10 Tenants Have Renewed at Least Once at the Property
- Excellent Opportunity to Unlock Rent Upside with the Collier’s Furniture Sublease (Legacy Toys R Us Ground Lease Sold in Bankruptcy)
- Ideal Store Spacing with the Next Closest Store for Each Anchor Tenant at Least 8 Miles Away
- Heavy Visitor Traffic with Floor & Décor & Dollar Tree Ranking in the Top 25% of Their Respective Chains Over the Past 12 Months (Placer.ai)
- Strong Dollar Tree Sales Outpacing Chain Average by 43.4% in 2020, Resulting in a Favorable Health Ratio of 8.3%