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Jones Lang Lasalle (JLL) is pleased to exclusively offer the opportunity to acquire the 306,506 square foot Argyle Village–one of Jacksonville’s most dominant Publix-anchored community shopping centers. Argyle Village is currently 97.3% leased with a proven long-term track record, strong recent operating performance and dependable cash flow stream. High traffic and long-tenured anchors within the property include Publix, JoAnn’s, American Signature Furniture, TJ Maxx, Bed Bath & Beyond, Michaels, Dollar Tree, Party City and Five Below, and also features a diverse and synergistic mix of national and regional retailers, restaurants and service providers which creates an unmatched shopping environment for this regional trade area.
Argyle Village represents an exceptional opportunity to acquire a dominant grocery-anchored community center in Jacksonville with an essential-needs-heavy tenant roster, a strategic regional location along major thoroughfares with high traffic counts, and anchor rents 7.2% below current market providing a new owner compelling risk-adjusted returns with a dependable cash flow stream at a basis that offers significant advantage over competing properties.
- Best-in-class national/credit tenancy (90.0% of GLA / 82.1% of revenue) with single-digit PSF anchor rents 7.2% below market
- Established track record, with over a decade of +90% occupancy and +20.6 years of average anchor tenure
- Dominant regional anchor tenant performance with relative traffic counts 53.6% higher than the St John’s Town Center submarket
- Strategic high exposure location fronting the intersection of the I-295 Beltway and Blanding Blvd. generating traffic counts among the highest in the market at +158k VPD
- Offered at a substantial discount to replacement cost, and +35% less than comparable recent trades on a PSF basis