west kendall, miami-dade county, florida fileshopping center located in west kendall, florida....

WEST KENDALL, MIAMI-DADE COUNTY, FLORIDA

Shoppes at

Lago MarOffering Summary

Dominant Publix-Anchored Neighborhood Shopping Center

High Density Trade Area

Strong Performing Publix with no ROFR / ROFO

Diverse and Seasoned Tenant Mix

� Youfit adds a critical fitness component that is internet-insulated and drives additional customer traffic

� Diverse and synergistic shop tenant mix led by service and restaurant uses are ideally positioned to serve the trade area

� Seasoned tenant roster with 10 tenants (88% of GLA) having +5 years of tenure

Rare Miami-Dade Publix-Anchored Retail Offering

West Kendall is an established and high density trade area (1-mile demos)

� 38,240 Residents

� 10.7% Population Growth by 2022

� $66,708 Avg. Household Income

Ideal Anchor – Publix � Florida’s leading grocer based on market

share

� Publix has operated at the center since 1995 and completed a renovation in 2015

� Strong and upward trending sales

� Publix’ lease contains no ROFR/ROFO

Attractive Financial Profile � Led by Publix, credit tenants account for 48.2%

of revenue

� Publix pays a significantly below market single digit rental rate

� Below replacement costs pricing

Cushman & Wakefield’s Retail Investment Advisors is pleased to offer for sale Shoppes at Lago Mar, a Publix-anchored neighborhood shopping center located in West Kendall, Florida. Developed in 1995, the center totals 82,613 sf and is currently 97% leased. Publix operates a 42,323 sf store with solid and growing sales. Publix is complemented by junior anchor Youfit. This offering represents the unique opportunity to acquire a dominant Publix-anchored neighborhood shopping center serving the West Kendall trade area and offering a highly secure income stream.

West Kendall, Miami-Dade County, Florida

Offering Highlights

PROPERTY SUMMARY

Location15700 SW 72nd Street

Miami, FL 33193

Year Built 1995

GLA 82,613 sf

Leased 97%

Site Area 6.956 Acres

Anchors

Shoppes at

Lago Mar

Prime Locationin West Kendall, an established

and family oriented suburb within southern Miami-Dade County.

Shoppes at Lago Mar’s Publix is the grocer’s only store along Sunset Drive west

of Florida’s Turnpike.

LOCATION HIGHLIGHTS

31,600 VPD Sunset Drive is the trade area’s primary east/west

artery. The property benefits from extensive frontage along both Sunset Drive and 157th Avenue.

Exceptional Demographics38,240 Residents in a 1-mile radius projected to grow 10.7% by

2022. Young Hispanic families are the driver fueling the trade area’s population growth.

Schools

� Publix has been operating at the property since 1995 and renovated its store in 2015

� Publix’ sales at this location are strong and trending upward

� Youfit has been at the center since 2013 and sales have increased 16% since 2015

� National / Regional tenants comprise 71% of GLA

� Seasoned tenant roster with 10 tenants (88% of GLA) having +5 years of tenure

Tenancy Highlights

� Credit tenants account for 48.2% of revenue

� Attractive CAGR of 2.3%

� Publix pays a below-market single digit rental rate

� Publix lease does not contain a ROFO/ROFR

Financial Highlights

TENANTCOMPOSITION BASED ON GLA

RETAIL7.6%

AVAILABLE2.7% RESTAURANT

5.7%

FITNESS14.0%

SERVICES18.8%

NATIONAL VS.LOCAL TENANCYBASED ON GLA

NATIONAL71.3%

AVAILABLE2.7%

LOCAL26.0%

GROCER51.2%

*National / Regional Tenants include: Oportun, T-Mobile and Towncare Dental.

Tenancy & Financial Highlights

TENANCY

MAJOR TENANTS SF % OF GLA

42,323 51.2%

11,573 14.0%

Total Major Tenants 53,896 65.2%

SHOP TENANTS

National / Regional Tenants (3)* 5,020 6.1%

Local (12) 21,497 26.0%

Available (1) 2,200 2.7%

Total Shop Tenants 28,717 34.8%

Total GLA 82,613 100.0%

Shoppes at

Lago Mar

Mariners SquareView to the Southeast

333 SE 2ND AVE SUITE 3900 MIAMI FL CWRETAILINVESTMENTADVISORS.COM

Investment Contacts

San Francisco CA

PhoenixAZ

DallasTX

ChicagoIL

AtlantaGA

MiamiFL

East RutherfordNJ

ManhattanNY

R E TA I L I N V E S T M E N T A D V I S O R S

ADAM FEINSTEIN

Executive Director | Miami FL

305 533 2863

adam.feinstein@cushwake.com

MARK GILBERT

Executive Managing Director| Miami FL

305 533 2866

mark.gilbert@cushwake.com

MITCHELL HALPERN

Director | Miami, FL

305 533 2855

mitchell.halpern@cushwake.com

SPENCER KINSELLA

Financial Analyst | Miami FL

305 351 2464

spencer,kinsella@cushwake.com

SCOTT QUICK

Financial Analyst | Miami, FL

305 533 2869

scott.quick@cushwake.com

AZAM MALIK

Financial Analyst | Miami FL

786 792 5202

azam.malik@cushwake.com

KRISTEN VARGAS VILA

Senior Marketing Specialist | Miami FL

305 351 2456

kristen.vargasvila@cushwake.com

GABY ROKAW

Senior Marketing Specialist | Miami FL

305 533 2883

gaby.rokaw@cushwake.com

KHAMBREL ROACH

Financial Analyst | Miami, FL

786 792 5203

khambrel.roach@cushwake.com