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JLL Capital Markets, as exclusive broker, is pleased to offer the excellent opportunity to acquire Village Oaks, a 166,245 square foot, community center anchored by Bealls, PetSmart, Planet Fitness, and Party City that is located in the heart of Pensacola, Florida, the largest MSA in the Florida Panhandle.
- Category-leading national anchors Bealls, PetSmart, Party City, and Planet Fitness account for nearly 70% of revenue and over 72% of GLA
- Top ranking tenants for customer traffic in Florida (Placer.ai) – #1 rankings for PetSmart (94 stores) and Cato (27 stores), and #8 ranking for Bealls (53 stores)
- Nearly all tenants that report sales have exceeded pre-COVID volumes (Bealls, Party City, Once Upon a Child)
- Extraordinary renewal history and stability – all anchors have renewed at least once, and 8 of 10 total tenants (96% of retail revenue) have a history of renewal
- 20,050 SF industrial building included with prime location just off Interstate-10 & Interstate-110 (146,500 combined VPD)
- Strong and stable Pensacola MSA – 512,000 residents, five major military bases (80,000 personnel), three college campuses (combined enrollment 44,000 students), two major hospital systems, Simon Property Group-owned Cordova Mall, and Pensacola International Airport
- Expanded 25-mile trade area given distance between other major retail hubs 50 miles west in Mobile, AL and 40 miles east in Crestview / Destin, FL
- Superior and dominant positioning on six-lane North Davis Highway (37,000 VPD)
- There is no other three-mile area in the Florida Panhandle as vibrant, geographically constrained and densely populated with today’s leading national retailers