Lakeland, FL - Chipotle & Heartland Dental

Description:

• Opportunity to acquire the two-tenant Heartland Dental and Chipotle strip
• Heartland Dental has operated at this location for 11 years and has ~4 years remaining on their lease with 1 (5-year) to extend
• Chipotle has operated at this location for 10 years and recently signed a 15-year extension through December 31, 2040 with 2 (5-year) options to extend
• Landlord responsibilities are limited to roof, structure, and foundation
• The roof was installed in 2015 and has a warranty until 2035
• Tenants have a contractual right to be on the pylon sign on the hard corner of US-98 & Sleepy Hill

• The asset is located at the signalized, hard corner intersection of US Hwy 98 and Sleepy Hill Rd averaging 58,000 VPD
• Adjacent to Lakeland Square Mall, a 1M+ SF super-regional mall that features Dillard’s, JCPenney, and more
• Just North of I-4 (111,500 VPD), allowing users to benefit from on/off ramp access to the site and surrounding trade areas
• Outparcel to Village Plaza, a Hobby Lobby-anchored shopping center that ranks in the 74th percentile (10,086 out of 40,174) of all nationwide shopping centers via Placer.ai
• Chipotle ranks in the 84th percentile (473 out of 3,001) of all nationwide locations via Placer.ai