Fort Pierce, FL ALDI

1412 South U.S. Highway 1
Lease Type Ground
Cap Rate 4.66%
Property Type Retail
Building Size 19,707 SF
NOI $113,000
Land Area 2.32 AC
Remaining Term 15 Years
Status Closed
Property Highlights

Prime retail location: The Property is new construction at a signalized intersection along U.S. Highway 1, a major north-south route serving the U.S. East Coast. The Property is near other national retailers and adjacent to Indian Hills Country Club and Golf Course. This centralized, strategic location is within close proximity to Interstate 95 and Florida’s Turnpike.

Established, recognized retail tenant: ALDI has over 1,600 stores in 35 states, and the Company is expected to own 2,000 stores in the U.S. by 2018. ALDI regularly serves approximately 40 million customers every month, and the Company has an estimated combined turnover of more than $59 billion annually.

Quality, long-term investment: This fifteen-year base lease features six options to extend with a six percent increase every five years. This is a ground lease, which means there are no landlord expenses.

Within tourist-driven market: Fort Pierce is part of the greater Port St. Lucie Metropolitan Area, which brings in over 12 million visitors annually. The city lies between two major tourist destinations on the eastern Florida coastline: Vero Beach and Port St. Lucie. Fort Pierce is approximately one hour north of West Palm Beach, one of the three main cities in South Florida.

ALDI has become known as one of America’s favorite grocery stores, and the chain has been named the value leader among U.S. grocery stores for the sixth year running according to an independent survey of U.S. consumers.