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2317 Gunn HwyOdessa, FL 33556
Lowe's Odessa, FL
Asset ClassRetail
Cap Rate5%
Deal Size: $15 MLease-Term Remaining: 20 YearsRetail SF: 137,554Access Data Room
Lowe's | 20-Year Ground Lease | 5.00% CAP | $15M
overview of deal

Overview

Atlantic Capital Partners has been exclusively engaged to solicit offers for the sale of this

new 20 Year Lowe’s ground lease in Odessa, FL. Lowe’s is currently under construction and

plans to open in October of 2024.

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Investment Highlights

Rare Opportunity

New construction Lowe's Home Improvement in a tax-free, high-growth state

 

Priced Well Below Replacement Cost

The current base rent equates to $5.45/SF and the purchase price is well below the replacement cost

 

Large Investment & Commitment

20-YR lease and large capital investment by Lowe's demonstrates a long-term commitment to this site

 

Investment Grade Credit

Lowe's is a Fortune 50 company that operates +/- 1,800 stores and has an investment-grade credit rating

 

Growth Market

Pasco County is the 3rd fastest-growing County in Florida with over 17,000 homes being developed in the immediate trade area

 

Strategic Location

Strategically located at the major regional intersection of SR 54 and Gunn Highway which carry a combined 75,000 vehicles per day

 

Passive Ownership

Absolute Net Ground lease provides passive ownership for out-of-state investors

 

Positive Demographic Trends

Florida has no state income tax and in 2022 ranked as the fastest growing State in the US

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2317 Gunn HwyOdessa, FL 33556

Sales Team

Patrick WagorExecutive Vice President561-427-6151pwagor@atlanticretail.com
Eric SuffolettoPartner & Managing Director508-272-0585esuffoletto@atlanticretail.com
David HoppeHead of Net Lease Sales980-498-3293dhoppe@atlanticretail.com
Danny GriffinVice President718-635-2449dgriffin@atlanticretail.com

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Listing provided by Revere CRE