Dominant Publix-Anchored Neighborhood Shopping Center High Density Trade Area in Palm Beach County Strong Performing Publix with no ROFO / ROFR OFFERING SUMMARY
Cushman & Wakefield s Retail Investment Advisors is pleased to offer for sale Polo Grounds Mall, a Publix-anchored neighborhood shopping center located in West Palm Beach, Florida. The center totals 127,765 sf and is currently 99% leased. Originally developed in the 1960 s, the center was substantially renovated and the Publix store was re-built in 2007. The offering includes three outparcel buildings (La Brasa, Cricket Wireless, Wing Stop) with immediate frontage along Military Trail. This offering represents the unique opportunity to acquire a premier South Florida grocery-anchored neighborhood shopping center with a long and successful operating history and a stable income stream. PROPERTY SUMMARY LOCATION SITE AREA YEAR BUILT OWNED GLA OCCUPANCY 926 S. Military Trail, ±15.94 acres (excludes 1960 s; substantially 127,765 99% West Palm Beach, FL 33415 JP Morgan Chase OP) redeveloped in 2007 ANCHORS OFFERING HIGHLIGHTS Dominant Grocery-Anchored Neighborhood Retail Center West Palm Beach is an established & high density Trade Area (2-mile demos) 66,472 Residents High Traffic Location Situated at major intersection in submarket - 64,500 VPD Less than one mile from Palm Beach International Airport and Trump International Golf Club Seasoned Tenant Roster 15 tenants (86% of GLA) with +5 years of tenure Strong Line-up of Outparcels and Junior Anchors Generate Significant Customer Draw Outparcels include: Secure & Growing Income Stream $ Publix lease expires in 2027 and accounts for 34% of total revenue 33,497 Daytime Employee Count $58,867 Avg. Household Income Ideal Anchor - Publix Florida s leading grocer based on market share Publix has operated at the center since the mid-1960 s Strong and consistent sales performance at this location Publix lease contains no ROFR/ROFO Junior anchors include Bealls Outlet (renewed for 10 years; sales up 10.8% since 2015), USPS (renewed for 5 years), Rainbow (renewed for 5 years), and Medical Consultants of Florida
Location Highlights LOCATION HIGHLIGHTS PRIME LOCATION in West Palm Beach, an established, high density trade area within Palm Beach County 64,500 VPD Situated at the signalized intersection of Military Trail and Summit Boulevard Proximate to Palm Beach International Airport and Trump International Golf Club EXCEPTIONAL DEMOS 66,472 residents and daytime employment of 33,497 within 2-mile radius CUSHMAN & WAKEFIELD
TENANCY MAJOR TENANTS SF % OF GLA 45,600 35.7% 20,156 15.8% 13,750 10.8% 7,020 5.5% 5,216 4.1% Total Major Tenants 91,742 71.8% SHOP TENANTS National Tenants* (7) 11,900 9.3% Local (9) 17,606 13.8% Total Shop Tenants 29,506 23.1% OUTPARCELS ** 2,261 1.8% 1,280 1.0% 1,504 1.2% Available** 1,472 1.2% Total Outparcels 6,517 5.1% Total Property 127,765 100% *National shop tenants include Advance America, GNC, Golden Krust, Greenberg Dental, Papa John s, Tandy Leather and T-Mobile **Part of two-tenant outparcel (Building E) Tenancy Highlights Publix has been operating at the property since the 1960 s and had a new store built in 2007 Publix sales at this location are strong and consistent Bealls Outlet has been operating at the center since 1994 and recently completed an interior renovation and extended their lease through April 2027; tenant s sales are up 10.8% since 2015 Leasing momentum with USPS and Rainbow recently extending for 5 years Six outparcels drive significant customer traffic to the center: [In Seasoned tenant roster with 86% of the GLA occupied by tenants with at least 5 years of tenure Credit tenants account for 60% of revenue Offering includes 3 outparcels Financial Highlights NATIONAL VS. LOCAL TENANCY BASED ON GLA NATIONAL 84.4% LOCAL 14.4% AVAILABLE 1.2%
For more information, please contact: MARK GILBERT Executive Managing Director (305) 533 2866 mark.gilbert@cushwake.com ADAM FEINSTEIN Executive Director (305) 533 2863 adam.feinstein@cushwake.com MITCHELL HALPERN Director (305) 533 2855 mitchell.halpern@cushwake.com SPENCER KINSELLA Financial Analyst (305) 351 2464 spencer.kinsella@cushwake.com The depiction in the included photograph of any person, entity, sign, logo or property, other than Cushman & Wakefield s (C&W) client and the property offered by C&W, is incidental only, and is not intended to connote any affiliation, connection, association, sponsorship or approval by or between that which is incidentally depicted and C&W or its client. This listing shall not be deemed an offer to lease, sublease or sell such property; and, in the event of any transaction for such property, no commission shall be earned by or payable to any cooperating broker except if otherwise provided pursuant to the express terms, rates and conditions of C&W s agreement with its principal, if, as and when such commission (if any) is actually received from such principal. (A copy of the rates and conditions referred to above with respect to this property is available upon request.) cwretailinvestmentadvisors.com