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

Documents

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Building Area

Property Description

JLL Capital Markets (“JLL”) is pleased to exclusively offer prospective investors the opportunity to acquire Shop Delray (the “Property”), a dominant, 33,827 square foot grocery-anchored center located in the highly affluent and rapidly-growing South Florida community of Delray Beach, Palm Beach County, Florida. Constructed in 2019, the property is currently 100% leased to a high-quality tenant roster led by Joseph’s Classic Market. The Property also features a diverse tenant line-up comprised of service, wellness, and food and beverage uses. 


This offering represents a highly attractive opportunity to acquire a dominant grocery-anchored center in a growing coastal Florida market with over 9 years of average remaining lease term on all tenants within the property. The property’s Net Operating Income is projected to grow +28% over the next 10 years, largely through contractual rent increases. The Property’s brand-new construction and immaculate finishes distinguish it from competing centers and require minimal capital improvements in the near future.

Investment Highlights

  • Strong performing Joseph's Classic Market highly acclaimed gourmet grocer
  • 100% Lease
  • Property offered unencumbered free and clear of existing debt
  • +9 Years of weighted average lease term
  • Significant zoning barriers to entry limit future development of commercial GLA in the area
  • High quality new construction design and finishes set it apart from the competition
Last Updated Date: 08 Apr 2021
Danny Finkle
Danny Finkle
Senior Managing Director, Miami Office Co-Head, Retail Group Leader
License details
FL-SL3043501
Eric Williams
Eric Williams
Senior Director, Capital Markets
License details
FL-SL3179736

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Last Updated Date: 08 Apr 2021

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