St. Augustine, FL - Circle K

Description:

• The tenant recently signed a brand new 15-year lease with 6 (5-Year) options to extend, demonstrating long-term commitment to the site
• The lease features 10% rental increases at the beginning of every option, growing NOI and hedging against inflation
• Circle K is one of the largest convenience store chains in the world with more than 6,846 locations across the U.S. and over 17,300 locations worldwide, supported by a strong global presence and continued expansion
• 2026 construction which features high quality materials, distinct design elements, and high-level finishes

• Circle K is part of a new development with tenant such as Mavis Tires, 7 Brew, Chipotle, Swig, Chase Bank, as well as over 36,000 SF of leasable inline retail
• New Publix at Elevation Pointe opened in January 2026, directly across the street from the subject property
• Established retail corridor with national credit tenants nearby such as McDonald’s, Texas Roadhouse, Chick-fil-A, Wendy’s, Starbucks, Culver’s, Dollar General, Burger King, and more
• Grand Oaks is located along the growing SR-16 corridor and is approved for up to 999 homes, 100,000 SF of commercial space and 50,000 SF of office space, supporting the continued residential growth and demand for surrounding retail (Article Link)
• The St. Augustine Premium Outlets have tenants such as Nike, Adidas, Coach, and have had more than 1.9 million visitors over the past 12 months according to Placer.ai

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Listing ID: a28TP000003gEZVYA2