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Property Highlights
Atlantic Capital Partners has been exclusively engaged to solicit offers for the sale of this new 20-Year Fifth Third Bank ground lease in Odessa, FL. Fifth Third Bank is currently under construction and is scheduled to open November 21, 2023. Rent commenced August 28, 2023 and will increase 10% every 5 years during the base term and option periods.
- Rare Opportunity – New 20-Year Fifth Third Bank Ground Lease in top Florida growth market
- Growth Market – Pasco is the 3rd fastest growing County in Florida and there are over 17,500 homes in development in the local trade area
- Excellent Fundamentals – Full access and excellent visibility to signalized intersection with over 75,000 cars per day
- Strategic Location – Located between 2 Publix anchored shopping centers and outparcel to Starkey Ranch, a 2,400 acres master planned community with over 6,200 homes
- Passive Ownership – Absolute Net Ground Lease provides completely passive ownership for absentee owner
- Inflation Hedge – Fixed 10% increases provide hedge against inflation and an average return of 5.22% over the base term of the lease
- Investment Grade Credit – Fifth Third is rated A- by Fitch and operates +/- 1,200 branches across 10 states
- Positive Demographic Trends – Florida has no state income tax and in 2022 ranked as the fastest growing State in the US