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JLL Capital Markets, as exclusive broker, is pleased to offer the exceptional opportunity to acquire Shoppes at Eustis Village, a 29,343 square foot strip center including Starbucks, Pep Boys, Greenberg Dental and Verizon Wireless located in Eustis (Orlando), Florida.
Emerging Lake County Medical Hub
Eustis is one of Orlando’s emerging medical hubs. Nearby AdventHealth Waterman sees over 67,000 patients annually and recently completed a 111,000 SF, $85 million expansion in 2019, increasing their bed count from 269 to 311. Further, Catalyst Healthcare recently filed plans to develop a 5.7-acre, 50,000 SF rehabilitation hospital directly across US 441.
Master Planned Avalon Park Tavares
Avalon Park Tavares is under development only 0.3 miles to the northwest. The $230 million, 155-acre master planned community is expected to bring over 1,000 homes including 300 single family homes, 300 multifamily units, 100 townhomes and 330 senior living residences.
Separate Tax Parcels Allowing for Versatile Investment Opportunity
Shoppes at Eustis Village has been split into three separate tax parcels allowing for greater investment flexibility and the immediate ability to reduce your cost basis via the sale of an individual parcel.
Committed Tenancy Line-Up
Pep Boys, Greenberg Dental and Verizon Wireless make up 58.7% of the GLA and 60.5% of the Revenue. All three tenants have been at the Property for at least 7 years, renewed at least once and have 5 years remaining or more. Further both Verizon and Greenberg have expanded their square footage within the past 5 years, signaling a long-term commitment to the Property.