A new store was constructed for Publix in 2019 under a 20-year term that expires in 2039
This Publix is a high performing store that has had significant growth in sales since being rebuilt in 2019
CENTRAL & ACCESSIBLE LOCATION
Over 785 feet of unobstructed frontage along Bartow Road, a major commercial artery for Lakeland (46K VPD)
Convenient access with a median cut along Bartow Road and a traffic light at the intersection with S. Crystal Lake Drive
Located just 2.0 miles southeast of Downtown Lakeland
Situated 1.0 mile east of Florida Southern College and 0.5 miles west of Southeastern University
DESIRABLE DEMOGRAPHICS
37K residents and 15K daytime employee population within a 2-mile radius
The trade area encompasses the historic neighborhoods to the south of Downtown Lakeland and two private educational institutions – Florida Southern College (3K students) and Southeastern University (8K students)
The only grocery anchored center along Bartow Road with no direct competition to the north or east allows the center to draw from a wide trade area
Downtown Lakeland is in the midst of a residential and commercial development wave that is reinvigorating the area
Lakeland has a strong and diverse economy as home to Publix’ headquarters (8,008 employees) and a rapidly expanding transport/ logistics industry that includes a large presence by Amazon
STRONG TENANT MIX
Diverse anchor line-up led by Publix, CVS, Dollar Tree and CanoHealth
CVS has an endcap location with 2 drive thru lanes and generates strong sales at this location
Long history of stability and success with Publix (LCD in 1960), CVS (LCD in 1960) and Dollar Tree (LCD in 1999) having operated at the center for decades and an average tenure of +10 years for the shop tenants
National tenants account for 88% of GLA
SECURE CASH FLOW
Publix anchors the income stream with 15.5 years of term remaining and accounts for 37% of revenue
The combination of Publix, CVS, Dollar Tree, CanoHealth and Rainbow represents 71% of revenue and 9.1 WALT