Sears Outlet Shopping Center

Sears Outlet Shopping Center

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site plan
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SEARS OUTLET SHOPPING CENTER
4560 Forest Hill Blvd, W. Palm Beach, FL 33415

PRICE $19,900,000
GLA 131,200 SF
PROPERTY TYPE Shopping Center
CAP RATE 7.7%
OCCUPANCY 100%
YEAR BUILT 1970
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OFFERING MEMORANDUM
FLYER

BRANDON HAKIMI
brandon@namdarllc.com
(516) 773-0080

DEMOGRAPHICS
Total Population
1 – mi. – 25,238
3 – mi. – 139,709
5 – mi. – 318,159
More info in the flyer

INVESTMENT HIGHLIGHTS

  • Sears Outlet Shopping Center with a GLA of 131,200 is anchored by Sears Outlet with a long lease (April 2031) and paying significantly below market rent
  • Value add potential by re-leasing Sears Outlet’s space (110,550 SF) with national tenants willing to pay higher rents as well as building an outparcel and obtaining rent in the range of $30-$40 psf
  • 4,800 SF outparcel leased to Chase Bank (recently extended their lease)
  • Other national credit tenants include Payless Shoesource and Sprint.
  • Sears Outlet Shopping Center is located at the SWC of Forest Hill Boulevard and South Military Trail. Traffic counts were 41,000 on Forest Hill Blvd and 45,000 on Military Trail
  • All leases are NNN
  • Prime location with excellent demographics

City:West Palm Beach
State:FL
Square Feet:131,200 SF
Price:$19,900,000
Cap Rate:7.7%

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