Investment Highlights
- National Brand Tenants Including Mattress One, Sleep Number and Kay Jewelers
- All Three Tenants have New, Long-Term Leases with 10 Percent Rental Increases Every Five Years
- Located Directly Across the Street from The Villages, the Largest Single-Site Residential Real Estate Development in the United States
- Located in One of the Highest Demographic Pockets in The Villages, the Site Boasts 79,000 People in a Five-Mile Radius with Average Household Incomes of More Than $66,000
Investment Overview
The Villages Plaza includes three national brand tenants – Mattress One, Sleep Number and Kay Jewelers. All tenants have long-term leases with 10 percent rental increases every five years. The property is directly across the street from The Villages, the largest single-site residential real estate development in the United States. It is located in one of the highest demographic pockets in The Villages and the site boasts 79,000 people in a five-mile radius with average household incomes of more than $66,000, which is double the national average.
As of April 2016, the total population of The Villages reached 157,000 residents. The subject property is located off US Highway 441 with a daily traffic count of approximately 28,000 vehicles. Surrounding national retailers include Home Depot, Lowe’s, Sam’s Club, Walmart Supercenter, Bed Bath & Beyond, Publix, Office Depot, Staples, Walgreens, CVS, Dollar Tree, Best Buy, Outback Steakhouse, Panera Bread, Chick-fil-A, Texas Roadhouse, Pizza Hut and many more. It is also within close proximity to the Florida Turnpike and Interstate 75 for direct access to Orlando and Tampa.
Lady Lake is directly across the street from The Villages, the largest single-site residential real estate development in the United States spanning over 27,000 acres in three adjoining counties in Central Florida. The Villages is an active retirement community located in sunny central Florida, an hour north of Orlando near Interstate 75 and the Florida Turnpike. It is close to Florida’s famous tourist attractions and Orlando International Airport. The rapid growth of areas like this has helped Florida become the nation’s third most populous state. The Villages has more than doubled in size since 2010. The Villages grew by 5.4 percent between July 2013 and July 2014. As of April 2016, the total population of The Villages reached 157,000 people. There are 33 executive golf courses and 11 Country Club courses in The Villages.
