west kendall, miami-dade county, florida fileshopping center located in west kendall, florida....
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WEST KENDALL, MIAMI-DADE COUNTY, FLORIDA
Shoppes at
Lago MarOffering Summary
Dominant Publix-Anchored Neighborhood Shopping Center
High Density Trade Area
Strong Performing Publix with no ROFR / ROFO
Diverse and Seasoned Tenant Mix
� Youfit adds a critical fitness component that is internet-insulated and drives additional customer traffic
� Diverse and synergistic shop tenant mix led by service and restaurant uses are ideally positioned to serve the trade area
� Seasoned tenant roster with 10 tenants (88% of GLA) having +5 years of tenure
Rare Miami-Dade Publix-Anchored Retail Offering
West Kendall is an established and high density trade area (1-mile demos)
� 38,240 Residents
� 10.7% Population Growth by 2022
� $66,708 Avg. Household Income
Ideal Anchor – Publix � Florida’s leading grocer based on market
share
� Publix has operated at the center since 1995 and completed a renovation in 2015
� Strong and upward trending sales
� Publix’ lease contains no ROFR/ROFO
Attractive Financial Profile � Led by Publix, credit tenants account for 48.2%
of revenue
� Publix pays a significantly below market single digit rental rate
� Below replacement costs pricing
Cushman & Wakefield’s Retail Investment Advisors is pleased to offer for sale Shoppes at Lago Mar, a Publix-anchored neighborhood shopping center located in West Kendall, Florida. Developed in 1995, the center totals 82,613 sf and is currently 97% leased. Publix operates a 42,323 sf store with solid and growing sales. Publix is complemented by junior anchor Youfit. This offering represents the unique opportunity to acquire a dominant Publix-anchored neighborhood shopping center serving the West Kendall trade area and offering a highly secure income stream.
West Kendall, Miami-Dade County, Florida
Offering Highlights
PROPERTY SUMMARY
Location15700 SW 72nd Street
Miami, FL 33193
Year Built 1995
GLA 82,613 sf
Leased 97%
Site Area 6.956 Acres
Anchors
Shoppes at
Lago Mar
Prime Locationin West Kendall, an established
and family oriented suburb within southern Miami-Dade County.
Shoppes at Lago Mar’s Publix is the grocer’s only store along Sunset Drive west
of Florida’s Turnpike.
LOCATION HIGHLIGHTS
31,600 VPD Sunset Drive is the trade area’s primary east/west
artery. The property benefits from extensive frontage along both Sunset Drive and 157th Avenue.
Exceptional Demographics38,240 Residents in a 1-mile radius projected to grow 10.7% by
2022. Young Hispanic families are the driver fueling the trade area’s population growth.
Schools
� Publix has been operating at the property since 1995 and renovated its store in 2015
� Publix’ sales at this location are strong and trending upward
� Youfit has been at the center since 2013 and sales have increased 16% since 2015
� National / Regional tenants comprise 71% of GLA
� Seasoned tenant roster with 10 tenants (88% of GLA) having +5 years of tenure
Tenancy Highlights
� Credit tenants account for 48.2% of revenue
� Attractive CAGR of 2.3%
� Publix pays a below-market single digit rental rate
� Publix lease does not contain a ROFO/ROFR
Financial Highlights
TENANTCOMPOSITION BASED ON GLA
RETAIL7.6%
AVAILABLE2.7% RESTAURANT
5.7%
FITNESS14.0%
SERVICES18.8%
NATIONAL VS.LOCAL TENANCYBASED ON GLA
NATIONAL71.3%
AVAILABLE2.7%
LOCAL26.0%
GROCER51.2%
*National / Regional Tenants include: Oportun, T-Mobile and Towncare Dental.
Tenancy & Financial Highlights
TENANCY
MAJOR TENANTS SF % OF GLA
42,323 51.2%
11,573 14.0%
Total Major Tenants 53,896 65.2%
SHOP TENANTS
National / Regional Tenants (3)* 5,020 6.1%
Local (12) 21,497 26.0%
Available (1) 2,200 2.7%
Total Shop Tenants 28,717 34.8%
Total GLA 82,613 100.0%
Shoppes at
Lago Mar
Mariners SquareView to the Southeast
333 SE 2ND AVE SUITE 3900 MIAMI FL CWRETAILINVESTMENTADVISORS.COM
Investment Contacts
San Francisco CA
PhoenixAZ
DallasTX
ChicagoIL
AtlantaGA
MiamiFL
East RutherfordNJ
ManhattanNY
R E TA I L I N V E S T M E N T A D V I S O R S
ADAM FEINSTEIN
Executive Director | Miami FL
305 533 2863
MARK GILBERT
Executive Managing Director| Miami FL
305 533 2866
MITCHELL HALPERN
Director | Miami, FL
305 533 2855
SPENCER KINSELLA
Financial Analyst | Miami FL
305 351 2464
spencer,[email protected]
SCOTT QUICK
Financial Analyst | Miami, FL
305 533 2869
AZAM MALIK
Financial Analyst | Miami FL
786 792 5202
KRISTEN VARGAS VILA
Senior Marketing Specialist | Miami FL
305 351 2456
GABY ROKAW
Senior Marketing Specialist | Miami FL
305 533 2883
KHAMBREL ROACH
Financial Analyst | Miami, FL
786 792 5203