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Investment Sale: FL Strip Center   

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Introduction

City Crossings is an 18,849 square foot specialty strip center on James Redman Parkway and Charlie Griffin Road, Plant City, Hillsborough County, Florida.

James Redman Parkway is the major retail corridor for Plant City with many national retailers having a presence here.

The City Crossings site was developed in 2007 as a Panera Bread anchored strip center. Panera Bread is on a 10 year lease with 9 years remaining.

The adjoining in-line spaces are occupied by an array of national and local retail tenants, including a 3,485± square foot Mattress Giant and 2,100± square foot Alltel Communications.


Property Profile

Location: 2909 James L. Redman Parkway
Plant City, Florida 33566
Type: Specialty Retail Strip Center
Land Size: 4.76± Acres
Building Size (GLA): 18,849± Square Feet of GLA
Year Built: 2007

 


Financial Data

Listing Price: $4,950,000
Estimated NOI: $432,750
Cap Rate: 8.74%
Occupancy: 95% (Based on Pending Leases)

Investment Highlights

  • 74% national or regional tenants.
  • Average 3-mile household income over $59,274 annually.
  • Daytime population of 18,428 and daily traffic count of 13,533 vehicles.
  • Adjacent to major traffic generators: Lowe's and Wal-Mart.
  • Frontage on James Redman Parkway, the major north/south retail corridor.

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