Listed by DELETE, JLL Miami | Brickell Avenue
Unpriced
Sun City Commerce Center
Details
Property Type Industrial
Sub Type Flex
Square Footage 91,239
Occupancy 100%
Tenancy Multi
Lease Term 5
Class A
Year Built 2008
Investment Type Value Add
Ceiling Height 24'
Industrial | 91,239 SqFt
Marketing description
- Execute CA/Access Deal Room --> https://invest.jll.com/listings/industrial-logistics/sun-city-commerce-center/deal-room
JLL is pleased to exclusively offer the opportunity to acquire Sun City Commerce Center, a light industrial property totaling 91K SF located in the Tampa MSA. The Property is 100% occupied by four tenants, with average suite sizes of 23K SF and 5.0 years of WALT remaining.
Sun City Commerce Center offers investors the opportunity to acquire a fully leased industrial property with below market leases at a discount to both replacement cost and recent Tampa transactions that offers strong contractual income growth, diversified tenant exposure, and minimal near-term lease rollover risk within one of the top performing industrial markets in the state experiencing a surge of leasing from logistics tenants.
Investment highlights
- Strong in-place tenancy with 18% mark-to-market opportunity with 5 years WALT remaining and above market annual rent increases averaging 3.7%.
- 7.8M SF of industrial within 10 miles but only two buildings (inclusive of the Property) that can accommodate tenants < 20,000 SF. Collectively, these properties are 98% leased and achieve top of market rents exceeding $14 PSF.
- Strategic Tampa location at the I-75 and College Ave interchange in an emerging industrial pocket with existing facilities occupied by Amazon, RXO, and ID Logistics.
- Functional rear-load design with 150' building depth allowing for ideal space flexibility. This Class A facility was delivered in 2008 with above standard specifications including 9% office finish; fully AC warehouse, 125' truck court, and 24' clear heights.
- Bankable existing cash flow supported by long-tenured tenancy averaging 6.2 years.
Listing Contacts
Listed by DELETE, JLL Miami | Brickell Avenue
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