Freestanding For Sale
44,988 Sq Ft
Alena Gridasova and John DeMarco with Re/Max 5 Star Realty are proud to represent the sale of a Best Buy single tenanted property. Best Buy remains a strong credit tenant with consistent year over year increase in earnings. This is a true absolute triple net leased property with no Landlord maintenance/property responsibilities. This is a fee simple real estate transaction with no master leases or title encumbrances.
Strategically located in Ocoee Florida, a small suburb in the Orlando-Kissimmee-Sanford, Metropolitan area. This Best Buy is only 1 of 2 Best Buy's located is West Orlando. The West Orlando area has shown a significant increase in total retail revenue and population growth over the last 5 years. Included in this offering are detailed retail reports and demographics in the Orlando marketplace. This property sits directly adjacent West Oaks Mall, joining destination retail stores such as Michael's, PetSmart, Vitamin Shoppe, Dillard's, AMC theaters, JCPenney, Men's Warehouse, Victoria's Secret, KAY Jewelers and many more.
We are pleased to offer to qualified investors an opportunity to acquire a single tenant, absolute NNN leased building occupied by Best Buy Corporation. The Property is one of only two Best Buys serving West Orlando and is located on one of the city's major arteries West Colonial Drive (S.R. 50). The building consists of approximately 45,000 square feet, is situated on 4.03 acres, and serves as the shadow anchor to the West Oaks Town Center, joining tenants Michael's, PetSmart, and Vitamin Shoppe.
The Property sits directly adjacent to the West Oaks Mall-a 1.1 million square foot super-regional mall whose new ownership is proposing a major redevelopment that would add residential, hotel and conference center, office, and additional retail-just east of Health Central Hospital, and the new 500,000 square foot mixed-use development known as City Center West Orange. The Property's strategic location offers unparalleled access to all of Orlando, with proximity to the East-West Expressway SR 408 (0.08 mi), and within minutes of the Florida Turnpike and the Western Beltway SR 429. There are approximately two years remaining on an original 20 year lease, with three, 5-year renewal options. The lease is Building Size (SF) : guaranteed by Best Buy Corporation (NYSE: BBY), which currently has an S&P credit rating of BB and a market cap of approximately $13.6 Billion. Ranked #60 on Fortune 500's 2014 list of America's Largest Companies, Best Buy generates nearly $40 Billion in revenues and is the world's largest consumer electronics retailer with over 1,400 stores worldwide. Best Buy's credit was recently upgraded by several prominent Wall Street analysts, has seen its stock price jump 40% in 2017, has reported upward trends in nationwide corporate sales, and its stock holds a consensus of "Outperform" among analysts. This is a rare opportunity to purchase a proven asset, fully leased on an absolute NNN basis to one of the nation's largest companies, providing attractive returns and benefitting from a rapidly improving area.