Mattress Firm & Vitamin Shoppe

PROPERTY OVERVIEW

• Outparcel to Ponce de Leon Mall - a 187,000± SF mall anchored by Belk and JCPenney.
• Dominant Retail Trade Area - approximately 6.3± million square feet of retail within a 5-mile radius.
• New 10-year leases with more than 9-years remaining
• Jacksonville MSA & County seat of St. John's County.
• New Construction - built in 2014.
• Rental Increases - 10% base rental increases every 5-years and in each of the option periods.
• Rent Guaranty - There is a 1,886 SF suite that is being marketed for lease. If the space is not leased prior to closing, the Seller will escrow $52,000 at closing, which equates to:  $25 PSF in annual rent plus $2.06 PSF in CAM, $.50 PSF in Taxes and $.12 PSF in Insurance reimbursements  for 1 year for the vacant space (the “Rent Guaranty”).  The offering Cap rate on actual occupancy (78%) is 6.17%. The offering Cap rate with the Rent Guaranty is 7.5%.
• Excellent Demographics - Population 7,000±; Average Household Income $71,000 within a 5-mile radius.
• In close proximity to multiple national retailers, including - Walmart Supercenter, The Home Depot, Publix, Aldi, Save-A-Lot, Bed Bath & Beyond, Marshalls, Ross Dress for Less, Hobby Lobby, Big Lots, Bealls Outlet, Harbor Freight Tools, Barnes & Noble, Petco, and many others.