boca raton firestone...fort lauderdale and palm beach, the boca raton/west palm beach market boasts...
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Repositioning opportunityBoca Raton FirestoneDevelopment opportunity/ 0.62 acres / 27,077 square feet
Executive summary 04
Property description 06
Market overview 08
Contents
ContactZACH WINKLERSVP, Retail Lead [email protected]+1.305.704.1333
CONFIDENTIAL SALE: Tenant is unaware that the building is on the market
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E X E C U T I V E S U M M A R Y
Address 1259 N Federal Highway, Boca Raton FL
Total Rentable SF 6,144
Site 0.62 acres / 27,077 SF
Number of Buildings One
Building Height One Story
Year Built 1979
Parking 28 spaces / 4.5/1,000
Zoning B4 - General Business
The Offering
OFFERING TIMELINEOwnership has set the following targets in order to effect a sale by end of Dec. 2018.
• Marketing: August 15th, 2018• Call for Offers: September 17th, 2018• Best and Final: September 24th, 2018• Purchase & Sale Agreement:
Early October• Due Diligence Period: Early October
to Early November• Close of Escrow: December 14th, 2018
JLL, as exclusive advisor, is pleased to present the opportunity to acquire the 100% fee-simple interest in 1259 N Federal Highway (the “Property”). Consisting of a 6,144 SF building on a .62 acre site, the Property is well located at the highly visible intersection of N Federal Highway and Glades Road. The site's location provides convenient access to all of Boca Raton in any direction.
The Property is currently home to Firestone Complete Auto Care that operates the entire property which was originally constructed in 1979. The site currently has 28 surface parking spaces. The prime location combined with excellent area demographics make the site prime for redevelopment or repositioning.
CONFIDENTIAL SALE: Tenant is unaware that the building is on the market
BOCA RATON F IRESTONE | OFFERING MEMORANDUM JLL | 5
E X E C U T I V E S U M M A R YInvestment HighlightsKey Investment Highlights
• Dense urban infill location featuring 63,470 people within 3 miles with an average household income of$110,442
• Highly desirable South Florida real estate located in a strong and growing market
• Situated at the corner of two of Boca Raton's busiest corridors with approximately 53,000 cars passing the site each day
• Florida Atlantic University is less than 2 miles from the subject property with over 30,000 enrolled students
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P R O P E R T Y D E S C R I P T I O N
The property is located in the desirable city of Boca Raton, approximately 45 miles north of Miami, 20 miles north of Fort Lauderdale and 27 miles south of West Palm Beach.
Current Use
The Property is currently home to Firestone Complete Auto Care that owns and operates the entire 6,144-square foot building. The repositioning of the Property will allow developers to capitalize on the strength of its position within the local market and the region as a whole.
Property HighlightsYear Built 1979
Parcel Number 06-43-47-20-15-001-0091
Site 0.62 acres / 27,077 SF
Number of Buildings One
Building Height One Story
Property Class 2700 - Auto Sales
Zoning B4 - General Business
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Survey
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Boca Raton OverviewCommanding a prime location on the Atlantic coast of Florida between Fort Lauderdale and Palm Beach, the Boca Raton/West Palm Beach market boasts Florida’s highest per capita personal income and ranks fifth-highest in the nation. With a population of over 96,000, it is the second largest city in Palm Beach County. According to the U.S Census Bureau, between 2015 and 2016, Boca Raton added 2,570 new residents, a new-resident increase larger than 30 of the county’s cities combined.
As one of the most beautiful and fastest growing areas in the county, Boca Raton is home to approximately 50 golf courses, five miles of beach frontage, 1,087 acres of parks and has a pleasant average annual temperature of 74.7 degrees.
Situated within an hour’s drive of three international airports, Boca Raton benefits from easy national and global access. Boca Raton offers residents and visitors an appealing spectrum of dining, shopping, entertainment, recreational, cultural, and real estate options. Offering a plethora of luxury goods and services, Boca Raton’s society scene ranks amongst the most active in Florida playing host to nearly 100 galas each year.
With its roots catering to the wealthy, Boca Raton has long been one of the nation’s poster cities for luxury living. Dubbed “the Beverly Hills of Florida”, Boca Raton’s diverse and well-rounded community is consistently luring new residents and visitors. The upscale lifestyle and elite social and cultural scene set the quintessential landscape for private clubs to flourish.
18PRIVATE/
PAROCHIALSCHOOLS& THREE
UNIVERSITIESBOCA RATON HAS
m o s t e x p e n s i v ega te d co m m u n i t i e s
i n t h e U. S .
3 10OF THE
Fo r b e s
10IN THE COUNTRYFOR LUXURY
HOME SALES
TOP
MARKET
Boca Raton’s society scene ranks amongst the
most active in Florida featuring nearly 100 galas
along with a symphony, ballet, theaters,
museums, festivals, collegiate sports, boating
and much more.
CHOSEN AS BEST CITY TO LIVE IN
FLORIDA
THIRD-WEALTHIESTCITY IN FLORIDA
#7 o n Fo r b e s ’ l i s t o fAMERICA’S
MILLIONAIRE CAPITALS
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M A R K E T O V E R V I E WDemographics1 MILE
BOCA RATON FIRESTONE
3 MILES
5 MILES
ContactZACH WINKLER SVP, Retail Lead [email protected]
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