Established Center, Strong Anchor Draw – Completely renovated in 2009, this quality, established shopping center is anchored by a brand new LA Fitness Sports Club under a 15-year lease.  The state-of the art facility features indoor swimming pool, basketball and racquetball courts, the finest exercise equipment and programs, a kids play area, and a cafe'.  It draws scores of patrons to this plaza from morning to night.  Many of the remaining tenants have occupied this established property for longer than 10 years, and occupancy costs in the center are among the lowest in the market.

 

Well Located, Easily Accessed – on Fairway Drive, just 500 feet from the signalized intersection of PGA Boulevard and the Florida Turnpike interchange, over 42,000 cars per day travel through this intersection.  Just 1,100 feet west on Fairway Drive is the main entrance to the densely populated PGA National community.  Directly across the street from the center is the 225,000 square foot Fairway Office Center, and the renowned Bascom Palmer Eye Institute, which together employ nearly 1,000 people.

 

Affluent trade Area/Impressive Demographics – with an estimated 7,500 residents in PGA National alone, and an average household income within one-mile of $132,103. Within a three-mile radius, the population is estimated at 39,212, with an average household income of $111,978. Adjacent celebrity and executive laden country-club communities include BallenIsles, where home prices range from $300,000 to $4 million; Mirasol, with a range from $500,000 to over $4 million; and Old Palm where prices range from $900,000 to over $5 million.

 

Attractive Physical Product – following a $1.5 million renovation highlighted by a new facade and fresh, appealing color scheme, newly paved and striped parking field, a new roof, abundant landscaping with lush native varieties, new signage and lighting, and distinctive architectural features.

 

Additional Development Opportunity - with a contiguous .84 acre parcel and adjacent .70 acre parcel, with Turnpike exposure, allowing for substantial value enhancement through development.  Demand drivers are strong for potential retail, office or medical-uses.  Additionally, the recently vacated Walgreen's space is prominently positioned at the west entrance of the center, with ample exposure and parking.  Quality tenants from a variety of uses including gourmet markets, sporting goods, and medical have expressed interest in this established location.

 

 Property Information

Projected Year One NOI:	$1,390,660
Occupancy:	90%
Total Net Rentable Area:	104,485 square feet
Year Built:	1986; Renovated in 2009
Site Area:	14.75 acres or 642,510 square feet
OFFERING PRICE:	No specified asking price