Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key facts

Year Built 2001
Building Area Gross
Land Area Gross ()
Occupancy 100.0 %

Property description

JLL CAPITAL MARKETS, as exclusive broker, is pleased to offer the exceptional opportunity to acquire Millenia Plaza, a 411,503 SF core, super-regional, open-air center located along Interstate-4 in the heart of one of the most successful retail trade areas in the United States. Millenia Plaza offers the unique combination of an unparalleled location, best-in-class tenancy, and significant value-creation potential.

Investment highlights

MILLENIA - TOP 10 RETAIL TRADE AREA IN UNITED STATES

  • Anchored by the 1.2M square foot A++ Mall at Millenia the #10 highest producing mall in the U.S. with sales exceeding $1,600 PSF
  • The Mall at Millenia features the world’s leading ultra-luxury retailers including Bloomingdales, Neiman-Marcus, and Macy’s, which attract the highest demographic residents in Central Florida and the 75 million annual visitors that visit the nearby theme parks.
  • Millenia trade area features a 140,000 SF SuperTarget and a 309,000 SF IKEA Superstore which drive the sensational level of activity and dominance of this super-regional retail trade area.
  • Expansive, most geographically central and accessible retail trade area in all of Orlando. Located 5.0 miles south of downtown Orlando with unobstructed visibility to Interstate-4 which has 185,000 vehicles per day. 
  • Millenia Plaza (411,503 SF) is shadow anchored by SuperTarget (139,987 SF) and Millenia Plaza II (156,052 SF) which create the largest, most prominently located, open-air retail center in Central Florida. 
  • Millenia Plaza has the most highly visible, iconic positioning with large anchor fascade tower elements and unparalleled signage along Interstate-4.

COVERED LAND PLAY WITH MASSIVE MARK TO MARKET POTENTIAL

  • Nearby land comps exceed $2.0 million per acre, which when applied to the 38-acre Millenia Plaza, support a land value exceeding $76 million.
  • Current rents are nearly 30% below market rent, which translates to over $1.9 million in below market rent embedded at the Property

BELOW-MARKET GROUND LEASES WITH STRONG PERFORMING NATIONAL TENANTS

  • Home Depot (S&P: A) and BJ’s Wholesale (S&P: BB) occupy significantly below-market ground leases on separate tax parcels
  • 99% of the revenue and GLA at Millenia Plaza is from category-leading national retailers
Last Updated Date: 11 Apr 2022

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Last Updated Date: 11 Apr 2022

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