Crossroads Marketplace
Retail | 83,991 SqFt
Marketing description
Sean Glickman, CCIM, managing director at Cushman and Wakefield and Chris Smith, director of retail capital markets, are proud to offer for sale Crossroads Marketplace, an 83,991 SF retail center featuring a great mix of national and local e-commerce resilient tenants. This offering is in a premier location in the Titusville submarket and shadow anchored by a Target which brings significant foot traffic to the property.
Investment highlights
•Good mix of e-commerce resilient, national and recession proof tenants.
•Most tenants have long-term leases with multiple option periods, and rental increases throughout their terms and options.
•Many major tenants have a long track record of success at the property, with GameStop, Kay Jewelers, Marshalls, Petco and AT&T since 2007, Panda Express and Hair Cuttery since 2008, and Miracle Ear since 2009.
•The main anchors Marshalls and Petco have brought nearly 500,000 visits to the center in the last year, according to placer.ai.
•The Petco location at the subject property is among the highest performing locations in Central Florida, according to placer.ai.
•Reimbursements historically have been at or above the cost of expenses, so there is no expense slippage at the property.
•Located directly next to I-95, a major North-South interstate that sees 41,000 vehicles per day.
•The property is located at a signalized intersection along Columbia Blvd, which has traffic counts of 17,400 AADT.
•Shadow anchored by a Target that brings nearly 1 million visitors to the center each year.
•18% of the GLA are medical tenants.
•82% of the GLA are service oriented
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