Kissimmee, FL - First Watch

Description:

• The tenant signed a brand new 15-year lease with 4 (5-year) options to extend
• Tenant recently commenced the lease and started operating.
• The lease features 10% increases every 5 years throughout the initial term and at the beginning of each option period.
• First Watch (NASDAQ: FWRG) is a rapidly expanding restaurant chain with over 600 locations across 32 states.

• Strategically located near the signalized intersection of Cypress Pkwy. and Marigold Ave. Benefits from exceptional visibility and access with ~67,500 vehicles passing daily.
• Positioned as an outparcel to Poinciana Lakes Plaza, a newly developed regional shopping center. Subject center is the largest shopping center development in Florida, and part of Costar’s 2024 commercial development of the year.
• Plaza is anchored by high-performing national retailers including Sprouts, Ross Dress for Less, Burlington, T.J. Maxx, Crunch Fitness, and others.
• Within its first year of operation, the Plaza is already attracting 2.6 million visitors, with an average dwell time of 57 minutes. (Source: Placer.ai)

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