W A S H I NGTON SHORES PLAZA ORLANDO, FLORIDA EXCLUSIVE LISTING AGENT PLAZADVISORS EXPERIENCE. KNOWLEDGE. VISION.
WASHINGTON SHORES PLAZ A OFFERING SUMMARY DEAL DRIVERS Property Type: Property Address: Gross Leasable Area: Grocery Anchored Neighborhood Center 2200 Bruton Blvd Orlando, Orange County, Florida 32805 Orlando-Kissimmee-Sanford MSA 45,370 SF Year Built: 1998 Occupancy: Total Land Area: 93.9% (2,778 Vacant SF) 4.94 Acres Major Tenants: Save-A-Lot 22,500 SF Expires 2/2019 Notable Tenants: Parking Count: Terms: In-Place NOI 1 : $295,300 Listing Price: $3,580,000 Cap Rate: 8.25% (1) For the fiscal year ending 9/2017 Family Dollar 10,148 SF Expires 12/2019 Domino's Pizza 172 spaces (3.79/1,000 sf) All cash. Not encumbered with debt. National grocery anchor: Washington Shores Plaza is anchored by a corporate backed Save-A-Lot store providing dependable cash flow and daily traffic to the Center. Tenant is paying below market rent of $8.29/SF gross, equivalent to a net base rent of $4.19/SF. Low price per square foot: The Property is being offered at $79/SF which is well below replacement cost. Majority of income derived from national tenants: National tenants comprise 80.4% of occupied GLA and 72.0% of potential gross income. Infill location in desirable Orlando MSA: The Center is located in the heart of the Orlando MSA, the 26th largest MSA in the nation, just 3.9 miles northeast of Universal Orlando Resort which attracts over 8 million visitors per year. Washington Shores Plaza is surrounded by rooftops with high barriers to entry and the support of strong economic and population growth within the market. Dense trade area with limited competition: Population within a three mile radius totals more than 134,000 people, providing a strong customer base for the Property. Competition within the trade area is limited with only one grocery competitor within a two-mile radius, a freestanding Wal-Mart Neighborhood Market. The Property is being offered all cash and is not encumbered with any existing debt.
WASHINGTON SHORES PLAZ A OVERVIEW & LOCATION Plaza Advisors, acting as exclusive agent on behalf of the Owner, is proud to offer for sale a fee simple interest in Washington Shores Plaza (the Property or Center ), a grocery anchored neighborhood shopping center located in Orlando, Florida. The Property is anchored by Save-A-Lot (22,500 SF) and Family Dollar (10,148 SF). Anchor tenants comprise the majority of the Center s GLA (72.0%) leaving only 12,722 SF of shop space. Washington Shores Plaza totals 45,370 SF in GLA and is currently 93.9% occupied with one vacant suite totaling 2,778 SF. The Center was constructed in 1998 and benefits from four points of access including a full ingress/egress at both Covington Street and Bruton Boulevard. National retailers comprise 80.4% of the occupied GLA and 71.0% of the potential gross income at the Center. The Property serves a dense trade area with an estimated population of 134,031 within a three-mile radius. Adding daytime employment, estimated at 71,143 employees, the customer base for the Center totals more than 205,000 consumers. Trade area fundamentals are supported by the strong growth of the Orlando MSA, which has outpaced that of the nation by both economic and population metrics. Forbes recently named Orlando the #1 market in the Country for job creation, driven largely by tourism, defense contracting, healthcare and hi-tech industries. DEMOGRAPHIC SUMMARY 1-Mile 3-Mile 5-Mile Category Radius Radius Radius 2015 Estimated Population 9,894 134,031 294,628 Projected Annual Population Growth (2015-2020) 0.6% 6.3% 4.8% 2015 Estimated Households 3,424 50,784 114,953 2015 Total Employment 4,684 71,143 161,562 2015 Average Household Income $41,847 $46,238 $58,304 Projected Annual AHHI Growth (2015-2020) 22.3% 20.6% 19.7% 2015 Median Age 37 31 34
2108 2124 2132-40 2172 Covington Street WASHINGTON SHORES PLAZ A SITE PLAN 2164 2200A 2200 NAP Bruton Boulevard (16,700 AADT) Suite Tenant SF 2108 Domino's Pizza 1,575 2124 Vacant 2,778 2132-2140 Your Care Health Systems 3,565 2164 Orlando Beauty Supply 3,490 2172 Prudential Financial Concepts 1,314 2200 Family Dollar 10,148 2200A Save-A-Lot 22,500 Total 45,370
Orange Ave Orange Blossom Trail Bruton Blvd S Kirkman Rd S John Young Pkwy PLAZADVISORS EXPERIENCE. KNOWLEDGE. VISION. Three Mile Radius E Colonial Dr Spessard L Holland East-West Expy Old Winter Garden Rd Raleigh St Washington Shores Plaza Interstate 4 Conroy Rd Florida s Turnpike Vineland Rd Holden Ave W A S H I NGTON SHORES PLAZA ORLANDO, FLORIDA No warranty or representation, expressed or implied, is made as to the accuracy of the information contained herein, and some is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed Jim Michalak Managing Partner (813) 837 1300 x 1 jim.michalak@plazadvisors.com Mike Cvetetic Senior Associate (813) 837 1300 x 4 mike.cvetetic@plazadvisors.com