Property Highlights
- Trophy Fifth Third Bank outparcel to Publix and Beachwalk, a 1,200 acre master-planned community featuring 1,260 residences, 400,000 SF of commercial space, a 14-acre crystal lagoon and a 130 key hotel
- St. Johns County is the fastest growing County in Florida and the 4th fastest growing County in the US (7% annual population growth)
- Affluent trade area ($149,000 AHHI in 3 miles) with the second lowest unemployment rate in FL at 1.9%
- Rare 20 year ground lease with investment grade tenant (S&P: A-) provides completely passive ownership and stable cash flow
- 20 year lease and large capital investment by tenant demonstrates long-term commitment to this site
- Priced below replacement cost, low rent ground lease provides potential future upside in rent
- 1.4 miles from I-95 (116,000 cars per day) interchange at CR-210Large addressable market, Fifth Third’s nearest branch is over 14 miles away
- Fifth Third Bank (NASDAQ: FITB) operates over 1,110 branches and reported a 12.29% YOY increase in revenue in 2022 ($9.35 billion)
- Florida has no state income tax and in 2022 ranked as the fastest growing state in the US with nearly 10,000 people moving to the Sunshine State every week