Just Listed! Jollibee Anchored Shopping Center in Pinellas Park, Florida!

Just Listed! Jollibee Anchored Shopping Center in Pinellas Park, Florida!

Investment Highlights:

■ Top Tier Location
■ Class A National and International Tenants
■ Two 10-Year and One 5-Year leases
■ 10% Rent Increases Every 5 Years
■ Easy Access, Tremendous Traffic and Visibility
■ Outstanding Demos – Most Dense County in Florida
■ Portfolio Opportunity – 4 Properties on Park Blvd, One a Few
Blocks Away on Ulmerton

Investment Overview:

Jollibee Center is an 8,400 square foot, tenant, NNN strip center on a 1.64 acre
parcel, located at 4049 Park Boulevard North, in Pinellas Park (Tampa). The Center
lies in the heart of a major commercial artery, with a Home Depot power center
across the street and surrounded by too many national retailers and restaurants to
enumerate. Designated turn lanes allow for convenient left-in-left-out access for
the 56,000+ cars that pass daily. Newly constructed, the center boasts beautiful
curb appeal, no deferred maintenance, three class A tenants, and easy to manage,
NNN leases.
Jollibee and Red Ribbon both have ten year leases, and both benefit from the
Jollibee Food Corporation (JFC) guaranty. JFC is a multinational chain of fast food
restaurants, founded in 1975, and totaling 1200 locations on three continents.
The third tenant, Spectrum, has a five year, NNN lease. Spectrum is owned by
Charter Communications, a BB+ rated media company operating in 41 states, with
over 95,000 employees. Charter Communications is the third largest multichannel
video programming distribution company in the US, behind Comcast Corp and
AT&T.
Location:
• Park Blvd – major bay to beaches commercial corridor: 56,000+ cars daily.
• Across from a Home Depot anchored power center
• Excellent access
• Surrounded by major retailers – this is a core commercial corridor
Rent Roll:
• Three corporate tenants with giant guaranties.
• Two ten-year leases and one 5 year lease. Long term stability, yet offering
staggered terminations and rent increases for diminished risk.
Demos:
• Pinellas County is the most densely populated county in Florida. Commercial
land is a premium here.
• 1/3/5 mile populations: 14K / 112K / 287K
• 1/3/5 mile AAHI: $63K / $64K / $68K
Opportunity:
• Ideal 1031 Option

• A clean, new construction, virtually zero management shopping center
with stellar tenants, outstanding location that offers the simplicity of
a single tenant net leased investment, while also delivering a higher
yield, better return, and the security of not having to rely on just one
tenant.
Portfolio Opportunity: 4 properties on Park Blvd and one on Ulmerton –
all new construction, long-term leases, and same seller:
• 4049 Park Blvd N: Spectrum (5yr) / Jollibee (10yr) / Red Ribbon Bakery
(10yr)
• 4590 Park Blvd N: Huey Magoo’s (10yr) / Paris Bakery (10yr)
• 4596 Park Blvd N: Auto Zone (20yr ground lease)
• 4671 Park Blvd N: IHOP Publix Shadow Center
• 9050 Ulmerton Rd: AFC Urgent Care (10yr) / Willie Jewell’s (10yr)
In summary; great real estate, solid tenants, incredibly dense demos, and
the ease of management and stability of a net leased offering, but with a
higher return and without the single tenant risk. The portfolio opportunity
adds economies of scale and efficiencies.

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