SOLD – Main Street Station
5751 North Main Street
Jacksonville, FL 32208
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