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Jacksonville, NC Shops at Western Blvd

$9,177,000
1345 Western Blvd
Cap Rate 6.25%
Property Type Multi-Tenant Retail Center
Building Size 15,326 SF
Land Area 1.96 Acres
Status Active
Download Offering Memorandum
Property Highlights

Atlantic Investments is pleased to present the opportunity to acquire Shops at Western Boulevard, a 100% leased retail Strip Center in Jacksonville, NC. Shops at Western Boulevard is a recently developed Multi-Tenant retail center fully occupied with a line-up of five national retailers. With 15,326 SF of Leasable Area, the tenancy includes Chipotle Mexican Grill, Mattress Firm, Eyemart Express, Vitamin Shoppe, and Noodles & Company. Shops at Western Boulevard is prominently located on Western Blvd, Jacksonville’s premier commercial corridor, featuring visibility to over 36,500 VPD. The property benefits from its location in front of Gateway Plaza, the #1 power center in the Market, and is shadow-anchored by Target, PetSmart, Ross, Dress for Less, Kohls, and Bed Bath & Beyond, among others. Shops on Western Boulevard offers investors the opportunity to purchase a well-positioned Multi-Tenant Net Lease asset, with a diverse mix of National tenants, located on Jacksonville’s busiest retail corridor.

 

  • Dominant Power Center – The property is Shadow-Anchored by Gateway Plaza, a best in class Power Center featuring Target, PetSmart, Ross, Bed Bath & Beyond, that will further drive consumers to the asset
  • High-Quality Construction – Built in 2014, this asset provides a new investor with limited exposure to capital repairs
  • Internet Resistant Tenants – Shops at Western Boulevard is comprised of primarily service-oriented tenants who are able to withstand competition from E-commerce
  • Excellent Exposure – Excellent visibility between two signalized intersections on Western Blvd and in front of Gateway Plaza
  • Economic Stability – Jacksonville, NC is home to Marine Corps Base Camp Lejeune which has a total population of over 123K and Economic Impact of over $3.9 Billion
  • Directly Services Carolina Forest and Jacksonville Commons – Two sprawling master planned communities featuring single family homes, townhomes, and apartment complexes, along with multiple schools and recreational centers
  • Established Trade Area – National Retailers within the immediate vicinity include; Publix, Target, Old Navy, Ross, Homegoods, Walmart, Sam’s, PetSmart, Lowe’s Home Improvement, Burlington, and more
  • Favorable Demographics – Over $64,000 in 3-mile Radius; More than 46,000 people in 3-mile Radius
  • Tremendous Traffic Counts – 36,500 VPD on Western Blvd and 31,000 VPD on N Marine Blvd