St Johns FL - Parkway Place Shoppes

Description:

• Features a strong, e-commerce resistant tenant line up
• 9+ years remaining on all leases that feature annual rental increases, growing NOI and hedging against inflation
• All tenants operate under NNN leases, limiting expense leakage for a future investor
• Ideal, low-management investment for a passive investor in a state with no state income tax

• Strategically located across the street from Durbin Creek Crossing, a 70-acre mixed-use development project
• The development will include 10 freestanding outparcels that features tenants such as ALDI, 7-Eleven, Tire Kingdom, ABC Liquor, First Florida Credit Union, and more: promoting strong tenant synergy for this asset
• DHI Communities (DR Horton Company) is in the process of constructing a 350-unit multi-family community with Durbin Creek Crossing, creating a direct consumer base from which to draw
• The property also features nearby direct on/off ramp access to interstate 95 (165,000 VPD), a major commuter thoroughfare that connects the Jacksonville MSA