Leesburg, FL - Mattress Warehouse

Description:

• New 10-year lease with a 10% rental increase in LY 6, growing the NOI and providing a hedge against inflation
• Corporate signed lease by Mattress Warehouse, the No. 1 independently-owned American mattress retailer with 300+ stores throughout the Mid-Atlantic region
• The lease features 3 (5-year) options to extend
• 2024 remodel that features a brand new roof
• Well below market rents for similar quality properties in the immediate area

• Located along the main retail thoroughfare in Leesburg with traffic counts exceeding 46,000 vehicles per day
• Across the street from Shoppes of Lake Village, a Publix-anchored shopping center that ranks in the top 69% of all nationwide neighborhood centers according to Placer.ai
• The subject property is adjacent to Lake Square Mall, a 728,000 SF regional mall anchored by Belk, AMC Theatres, Books-A-Million, Petsmart, Hibbett Sports, Shoe Dept., and more
• Other nearby national/credit tenants include Home Depot, Starbucks, Dollar Tree, Advance Auto Parts, Autozone, Take 5 Oil Change, Mister Car Wash, Chipotle, and more