770.913.3900

SOLD – Main Street Station

SOLD – Main Street Station

5751 North Main Street

Jacksonville, FL 32208

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Contacts

Sean W. Patrick, CCIM

Senior Vice President, Investment Sales

770.913.3946

spatrick@ackermanco.net

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Bill Mitchell

Director

404.946.6919

wmitchell@icaprealty.com

Overview

  • Stabilized grocery anchored shopping center located in Jacksonville, FL
  • No state income tax – Florida
  • Anchor, Save-a-Lot, recently took over lease assignment from the Delhaize Group; lease corporately backed by Delhaize Group (S&P: BBB-) until 2021
  • Junior anchor, Family Dollar (S&P: BBB-) set to expire in 2020.
  • Low exposure to capital expenses with multiyear anchor leases in-place
  • Historically successful track record with high tenant retention
  • Strong tenant base with over 81% of GLA represented by credit-worthy national companies
  • Offered well below replacement costs of $62.06 PSF
  • Renovations in 2012