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Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer the opportunity to acquire Towne Centre at Wesley Chapel (the “Property”), a 69,425 SF Winn-Dixie-anchored center located in the highly affluent and rapidly growing Tampa MSA community of Wesley Chapel. Completed in 2000, the property is 100% leased to a high-quality tenant roster comprised largely of national tenants and anchored by a highly productive Winn-Dixie grocery store with consistently growing sales.
This offering represents the opportunity to acquire a strong performing grocery-anchored asset with a high volume Winn-Dixie store in a growing Florida market at pricing substantially below replacement cost.
Highly Productive and Seasoned Grocery Anchor
- #1 ranked Winn-Dixie store out of 12 within a 15-mile radius, per Placer.ai.
- Top performing Winn-Dixie with significant tenure, healthy occupancy cost ratio, and consistently growing sales.
Ideal Tenant Mix: Food and Fitness Combo
- 98% of the Property is leased to essential and internet-resistant tenants, including the optimal combination of grocery and fitness uses that drive daily traffic to the center and generate over 52,000 site visits weekly on average over the past 12 months, per Placer.ai.
- 94% of the GLA is leased to national and regional tenants, including Winn-Dixie, Anytime Fitness, Beef O’Brady’s, Great Clips, Kumon, Hungry Howie's, and PostNet.
- The property boasts an impressive average shop tenant tenure of 12.3 years, demonstrating the longevity of the tenancy and durability of the revenue stream.
Explosive Residential Growth Corridor
- There are 64,520 residents within a 5-mile radius with an average household income of $103,743 and the population is forecasted to grow an additional 12.5% over the next five years.
- The Property is located in an expansive extended trade area comprised of 76,592 residents with 64% and 73% of customers coming from within 5 and 7 miles, respectively, per Placer.ai.
Complementary Surrounding National Cotenancy
- Located immediately adjacent to the 471,279 SF Grove at Wesley Chapel, the Property benefits from the regional big-box draw of TJ Maxx, Dick’s Sporting Goods, Ross Dress for Less, Best Buy, Ulta, Old Navy, and PetSmart, to name few.