JLL Capital Markets (“JLL”) is pleased to exclusively offer prospective investors the opportunity to acquire Shop Delray (the “Property”), a dominant, 33,827 square foot grocery-anchored center located in the highly affluent and rapidly-growing South Florida community of Delray Beach, Palm Beach County, Florida. Constructed in 2019, the property is currently 100% leased to a high-quality tenant roster led by Joseph’s Classic Market. The Property also features a diverse tenant line-up comprised of service, wellness, and food and beverage uses.
This offering represents a highly attractive opportunity to acquire a dominant grocery-anchored center in a growing coastal Florida market with over 9 years of average remaining lease term on all tenants within the property. The property’s Net Operating Income is projected to grow +28% over the next 10 years, largely through contractual rent increases. The Property’s brand-new construction and immaculate finishes distinguish it from competing centers and require minimal capital improvements in the near future.
- Strong performing Joseph's Classic Market highly acclaimed gourmet grocer
- 100% Lease
- Property offered unencumbered free and clear of existing debt
- +9 Years of weighted average lease term
- Significant zoning barriers to entry limit future development of commercial GLA in the area
- High quality new construction design and finishes set it apart from the competition