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.