Naples, FL - Verizon

Description:

• Verizon has operated at this location for 10 years and has 7+ years remaining on their lease with 1 (5-year) option to extend
• The lease features a 21% rent increase at the beginning of the option period
• The operating tenant is Cellco Partnership, a corporate operating entity for Verizon
• Verizon generated revenues of $134.8 billion in 2024

• This Verizon location ranks in the 98th percentile (91 out of 5,022) of all nationwide locations via Placer.ai
• The asset is located off the signalized, hard corner intersection of Pine Ridge Rd and Airport-Pulling Rd N averaging a combined 114,500 VPD
• Strong intrinsic value in the underlying real estate
• Less than 2.5 miles West off I-75 (98,100 VPD), allowing users to benefit from on/off ramp access to the site and surrounding trade areas
• Outparcel to a shopping center that features The Home Depot, PetSmart, AutoZone, and more
• Placer.ai
• The Home Depot ranks in the 96th percentile (75 out of 1,984) nationwide
• Pine Ridge Crossing, located across the street and anchored by Publix, ranks in the 92nd percentile nationwide (2,985 out of 41,259) shopping centers
• Carillon Place, located adjacent to the subject property, ranks in the 92nd percentile nationwide (3,112 out of 41,259)