Gainesville, FL - Shell (Newberry Rd)

Description:

• The tenant has over 15 years remaining on its lease with 2 (10-year) option periods to extend
• The lease features 2% annual rental increases throughout the initial term and option periods, growing NOI and hedging against inflation
• The lease is both personal and franchisee guaranteed (28-unit operator)

• Located roughly 3 miles from Butler Center, a massive super-regional mall spanning 2,000,000 square feet across 267 acres.
• #4 most visited super-regional mall in the nation, attracting over 10.5 million visitors annually (per Placer.ai)
• Butler Center features over 150 tenants, including Whole Foods Market, Publix, Target, Trader Joe’s, Walmart Supercenter, Dick’s Sporting Goods, Barnes & Noble, and more
• Strong performing corridor - in addition to Butler Plaza, the Sam’s Club is ranked #1 in Florida, Target is ranked #3 in Florida, Walmart is ranked #12 in Florida
• Strategically located at the signalized, hard-corner intersection of Newberry Road and NW 39th Rd that averages a combined 36,000 vehicles passing daily
• Recently renovated in 2020, showcasing the tenant’s strong commitment to the site
• Benefits from excellent visibility and access with multiple points of ingress/egress, significant street frontage, and a large pylon sign