INVESTMENT HIGHLIGHTS

VALUE-ADD OPPORTUNITY WITH BELOW-MARKET RENT: In-place rents average just $13.45 PSF, significantly below the surrounding market average of $25 PSF+

• 36% of GLA has no renewal options, creating near-term upside through mark-to-market lease-up
• Short 2.1-year WALT allows investors to quickly capture rental growth and reposition tenancy
• Average asking rent in submarket: $2.31 PSF/month
• 99% occupancy, offering strong in-place cash flow from a diverse tenant base

 

ATTRACTIVE DEAL METRICS AND UPSIDE:

• 75% of GLA is NNN, minimizing landlord responsibilities and increasing net cash flow
• Large ±128,016 SF center on ±8.72 acres provides significant leasing flexibility and redevelopment optionality
• Majority of the tenancy (67% of GLA) rolls by 2027
• Limited surrounding vacancy further supports future leasing efforts and rent growth

 

STRONG TENANT MIX WITH NATIONAL ANCHOR:

• Anchored by Outback Steakhouse, who has been operating this location since 1991, over 34 years
• Diverse roster of retail, medical, and office tenants, driving steady foot traffic and cross-use demand

 

PRIME RETAIL CORRIDOR LOCATION:

• Located on S Cleveland Ave (US-41) with ±68,000 vehicles per day and just north of Daniels Parkway which sees north of 50,000 VPD
• Pinebrook Park benefits from direct freeway visibility, signalized intersection access, and dedicated turn lanes at a corridor recording the highest traffic counts in Lee County
• Situated in a targeted Cleveland Ave Redevelopment District, coded as a Brownfield and Enterprise Zone area, offering potential development incentives and city alignment
• Multiple access points, including US-41, Big Pine Way, and Austin Street, support strong vehicular circulation and visibility across an 812 FT combined frontage
• Positioned in a dense, highly trafficked retail hub surrounded by Publix, Costco, Target, Walmart, The Home Depot, and more
• Less than 5 miles from downtown Fort Myers and major residential neighborhoods
• Lee County’s economy is supported by over 13,500 Lee Health employees, Publix, FGCU, and retail firms, reinforcing demand for support services and convenience-retail

 

DEMOGRAPHIC STRENGTH:

• Over 150,000 residents within a 5-mile radius with average household income exceeding $85,000
• Located in one of Southwest Florida’s fastest-growing submarkets, fueled by population growth and strong in-migration trends