Strategically positioned: The Property is new construction located at a shopping center entrance near the signalized intersection of busy Pines Boulevard and Hiatus Road (75,000 ADT combined). The site is an outparcel to Target, HomeGoods and Pembroke Lakes Mall—with more than one million square feet of GLA, this super-regional mall features 125 national retailers and restaurants. The Property is adjacent to Home Depot-anchored Pembroke Lakes Square and is less than one mile from the upcoming Pembroke Pines City Center lifestyle center development. The site is also less than three miles from Interstate 75.
Excellent market location: Pembroke Pines, located between Fort Lauderdale and Miami, is a principal city of the Miami MSA (population of more than six million as of 2015). Its convenient location offers easy accessibility to primary highways and interstates, key employment centers, retail/commercial destinations and more.
Quality investment: The Property is 100 percent occupied to tenants on new, 10-year leases that feature built-in rent increases, several options to extend and minimal landlord responsibilities. No state income tax in Florida provides a low tax burden for the investor.
Strong, recognized tenants: Starbucks has a prominent global presence with more than 28,000 retail stores in 70 countries. MOD Pizza is one of the fastest-growing chains in the industry with over 300 locations in 27 states. System-wide sales for 2017 saw a year-over-year increase of 81 percent.