Sawgrass Home Design Center Sunrise,Florida

$14,650,000
Property type:Multi-Tenant / Shopping Center

The space

  • Price: $14,650,000
  • Cap Rate: 5.50%
  • Rentable Square Feet: 45,088
  • Net Operating Income: $805,728
  • Price PSF: $324.92
  • Land Area: 5.85 Acres
  • Year Built: 1995

Description

13001-13191 W. Sunrise Blvd.
Sunrise, FL 33323

Investment Highlights

  • Directly Next to Sawgrass Mills – the Largest Outlet Retail Shopping Destination in the U.S. with 30 Million Visitors/Shoppers Annually
  • Within Walking Distance to Recently Constructed American Express Regional Headquarters with 3,000 Employees – Facility Cost Approx. $200 Million to Develop
  • Directly Next to Metropica – A Development That Plans to be Over 4 Million Square Feet of Condos, Apartments, Office Space, Shopping, Dining and More
  • Over 45,000 Square Feet of Multi-Tenant Retail Space with Tenants Occupying Approximately 60 Percent of GLA Have Been in the Plaza for Over Five Years
  • Roof was Replaced in Two Phases Spanning 2013 and 2014, with Warranty in Place
  • Other Surrounding Retailers Include Walmart Supercenter, Sam’s Club, Home Depot, Best Buy, Rooms To Go, Publix, Aldi, The Fresh Market, Ross, Michael’s, LA Fitness, PetSmart, Chili’s Grill + Bar, First Watch, Dunkin Donuts, Starbucks, Five Guys Burgers & Fries, Denny’s, Papa John’s and Many More

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire Sawgrass Home Design Center in Sunrise, Florida. The Subject Property is directly adjacent to Sawgrass Mills Mall which is the largest outlet retail shopping destination in the U.S. Sawgrass Mills has more than 30 million visitors/shoppers annually and is the #1 visitor destination in all of South Florida.  In addition, the property is directly adjacent to Metropica, which is a development that will be upon completion over 4 million square feet of condos/apartments (over 2,250 residences planned), office space, shopping, dining and more. Upon completion, this is anticipated to attract even more visitors and residents to the area. Also in the immediate area is the BB&T Center, home to the NHL’s Florida Panthers. The BB&T Center hosts over 200 events and concerts annually.

The Subject Property is within walking distance to a recently constructed American Express Regional Headquarters. This new facility houses 3,000 employees and cost approximately $200 million to develop. Surrounding national retailers include Walmart Supercenter, Sam’s Club, Home Depot, Best Buy, Rooms To Go, Publix, Aldi, The Fresh Market, Ross, Michael’s, LA Fitness, PetSmart, Chili’s Grill + Bar, First Watch, Dunkin Donuts, Starbucks, Five Guys Burgers & Fries, Denny’s, Papa John’s and many more.

The Subject Property is in an exceptional area in Sunrise, FL just 14 miles from Fort Lauderdale Beach. The property is located off Sunrise Boulevard with a daily traffic count of more than 42,000 vehicles, and the population in the area is over 200,000 within a five-mile radius of the property.

Sawgrass Home Design Center consists of more than 45,000 square feet of multi-tenant retail space, on a 5.85-acre lot with approximately 194 parking spaces. There is a roof warranty in place, and the roof was replaced in two phases spanning 2013 and 2014. The tenants that are occupying approximately 60 percent of the property have been in place for over five years. Property outparcels include Wendy’s, Pollo Tropical and Arby’s (outparcels not included in the sale).

Sunrise, Florida is part of the Broward County metro area and contains a population of 1.9 million people. Sawgrass Home Design Center is 13 miles West of Fort Lauderdale, 36 Miles Northwest of Miami, and 55 Miles Southwest of West Palm Beach.

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