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JLL Capital Markets, Florida has been exclusively retained to arrange the sale of the Avenue Shoppes, a 42,196 square foot, unanchored neighborhood shopping center in Orlando, Florida (the “Property”). The Property is ideally situated at the southeast corner of South Orange Blossom Trail and West Sand Lake Road along with being a direct outparcel to the Florida Mall, a nationally recognized, top revenue producing shopping mall in the United States. Avenue Shoppes is a strong performing stabilized retail center with 94% occupancy with upside potential.
- Avenue Shoppes is a direct outparcel to the Florida Mall, a top performing mall in the US, allowing it to generate increased exposure to the over 20MM visitors that travel to the shopping center destination each year.
- The Property benefits from approximately 600 feet of frontage on Orange Blossom Trail (US 17-92) – a main passageway through the state of Florida, and strong visibility from the Sand Lake Rd intersection.
- Avenue Shoppes has a strong track record of historical occupancy and ability to promptly re-lease units if they become available.
- The Orlando tourism industry generated over $75BB in annual economic impact in 2019 and is slated to grow considerably over the coming years – Avenue Shoppes is well-positioned to benefit from this tourism as it is located on one of the main arteries that feeds directly into the Universal and iDrive Tourist Districts.
- Between 2010 and 2020, Florida’s population grew by 14.6% which is double the rate of overall US population growth and the third fastest growing market in the United States, outpacing fast-growing metros such as Atlanta, Austin and Tampa.
- The Central Florida retail market is one of the most prominent in the US, providing an investor a strong performing asset for any portfolio, that will always have an active buyer pool.