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Area Size
NOI Net Operating Income N/A
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Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Key facts

Year Built 1984
Building Area Net
Land Area Net ()
Occupancy 93.0 %

Property description

JLL CAPITAL MARKETS, as exclusive broker, is pleased to offer the exceptional opportunity to acquire University Plaza, a 77,918 square foot in-fill shopping center anchored by a strong-performing Publix Supermarket located at a bustling intersection in Winter Park (Orlando), Florida, one of the most desirable and affluent communities in Florida.


University Plaza is located in Orlando’s epicenter of student activity as it is less than 5 miles west of the second largest college in the United States – University of Central Florida (72,000 students), less than 1 mile east of Full Sail University (21,000 SF) and 3.5 miles east of Rollins College (3,100 students).

Investment highlights

  • Located in Winter Park within the booming Orlando MSA – 3rd fastest growing MSA in the US 
  • Grocery-anchored by market-leading Publix Supermarkets with strong historical sales growth of over 30% since 2013, 2.4% health ratio, and over 9 years of term remaining
  • Publix Supermarkets, with an implied credit rating of A+ (Creditntell), accounts for 58.5% of the GLA and 47.6% of the total revenue at the property
  • Dense and affluent, high-income resident base – Over 97,100 residents within 3 miles boasting average incomes of nearly $86,000
  • Epicenter of student activity – Aptly named University Boulevard (39,000 VPD) connects directly to University of Central Florida (UCF – 2nd largest University in US with 72,000 students) and Full Sail University (Leading media entertainment college less than 1 mile from property with 21,000 students)
  • 41% of surrounding 3-mile population have bachelor’s or graduate degree
  • Ideal frontage at dominant 15-lane signalized intersection of University Boulevard (39,000 VPD) and Goldenrod Road (27,500 VPD)
  • Nearly 90% of leased GLA comprised of internet-proof tenancy, promoting in-person visits (grocery, food, hair, nails, cleaners, shipping)
  • 7 of the 11 current shop tenants have renewed at least once, with four tenants renewing in the last year at an average 6% base rent increase
  • “Pandemic proof” outdoor seating and patio serving Brooklyn Water Bagels (one of the top stores in the chain) and Las Carretas (annualized sales exceeding % rent breakpoint)
  • Opportunity to take advantage of recent leasing momentum (7,300 SF of new tenants) and enhance returns by leasing the remaining 5,176 SF of available space


Last Updated Date: 20 Oct 2021

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Last Updated Date: 20 Oct 2021

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