Venice, FL - Sprouts

Description:

• The tenant recently signed a brand new 20-year lease with 4 (5-year) options to extend
• The lease features $1.00/SF rent increases every 5 years including options, generating NOI and hedging against inflation
• The tenant is currently paying far below market rents in Orange County
• Headquartered in Phoenix, AZ, Sprouts employs approximately 35,000 team members and operates more than 450 stores in 24 states nationwide
• In their most recent earnings report, Sprouts reported same-store comp growth of 10.2% and net sales increased 17%

• Sprouts is the anchor for a larger retail development that features 5 pads: a Tommy’s Express Car Wash, a proposed bank, Heartland Dental, and Ellianos Coffee
• The site and overall development will serve as the primary retail users for Brighton by Park Square Homes (168-homes), Marlowe Jacaranda (240-units), The Archer (216-units), and the Floridian Club complexes (309-units)
• Just South of I-75, allowing users to benefit from direct on/off ramp access to the site and surrounding trade areas (105,000 VPD)
• Also located just South of the newly built 55+ rental community, The Floridian Club, which features 309 villas and bungalows
• Jacaranda Blvd has experienced significant growth in recent years with the completion of several residential and retail developments, adding long-term viability in the underlying real estate
• 2025 construction which features high quality materials, distinct design elements, and high-level features
• 4 miles Northwest from Wellen Park, which ranks No. 6 in fastest-selling communities in the country with 531 homes sold through June 30, 2025

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Listing ID: a28TP000001hkILYAY