BlueGate Partners, LLC and its affiliates (collectively “BlueGate”) have been retained on an exclusive basis by the owner (the “Owner”) to arrange the sale of the Owner’s fee simple interest in a two-property portfolio of Publix-anchored shopping centers located in Florida. The properties are available for purchase either as a portfolio or individually and both properties have attractive assumable financing with significant term remaining on both loans.
Polo Grounds Mall, located in West Palm Beach, FL, is ideally situated at the northeast corner of South Military Trail and Summit Boulevard, which has a combined daily traffic count of over 63,000 cars. The property is a Publix Supermarkets-anchored shopping center with single-story inline space and five outparcels totaling 130,015 leasable square feet (“sf”) that was recently completely reconstructed in 2007. Publix, comprising 45,600 sf, has been operating in the shopping center since 1966 and has over 13 years remaining on its current lease with an additional six, five-year renewal options. Publix reported sales in 2013 of $585 per square foot, which is a 6.5 percent increase over the 2012 figure and 4.5% above the national average of $560 per square foot. The property is located approximately one-mile south of Southern Boulevard (State Road 80) giving it nearby access to I-95 (exit 68, approximately 2.5 miles east) and Florida’s Turnpike (exit 97, approximately 3.5 miles west) and has a trade area that consists of 312,973 people in the 5-mile ring. Polo Grounds Mall is 89.2 percent occupied and is anchored by national and regional retailers, including Publix Supermarkets, JP Morgan Chase Bank, Beall’s Outlet, Rainbow, and Papa Johns.
Haines City Mall is strategically located at the intersection of U.S. Highway 27 and U.S. Highway 17/92 West in Haines City (Polk County) FL, approximately 25 miles southwest of Orlando. The location enjoys a combined daily traffic county of 64,100 cars per day. The property is anchored by a 44,271 sf Publix Supermarket and the shopping center includes single-story inline space and one outparcel (with two suites) totaling 118,848 leasable sf. The Publix store first opened in 1966 and its current lease has approximately 10 years of term remaining with seven, five-year renewal options. Publix reported sales in 2013 of $495 per square foot, which is a 4.3 percent increase over the 2012 figure. Haines City Mall has a current occupancy of 92 percent and is anchored by national and regional retailers including Publix Supermarkets, Bealls Outlet, Aaron’s, Dollar General, Buddy’s, and Rainbow.
For additional information, please refer to the links below which will allow you to download a copy of the Investment Summary and the Confidentiality Agreement (“CA”). To receive a copy of the detailed Confidential Offering Memorandum, please execute the CA and return by fax to (561) 655-1745 or scan and return by email to email@example.com.