Shoppes at Baldwin Park

4900 E Colonial Drive | Orlando, Florida 32803

Contact Brokers

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James Medefind
Senior Vice President Investments
James.Medefind@MarcusMillichap.com(O) 813-387-4788
FL #SL3216834

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Jim Shiebler, CCIM, CEC

First Vice President Investments

Jim.Shiebler@MarcusMillichap.com

(O) 239.340.7811
FL #SL3347780

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James Garner, CCIM
First Vice President Investments​James.Garner@MarcusMillichap.com
(O) 813.387.4796
FL #SL3273659

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Kirk Olson
Senior Vice President Investments

Kirk.Olson@marcusmillichap.com

(O) (786) 522-7064
FL #SL3113669

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Drew Kristol
Senior Vice President Investments

Drew.Kristol@marcusmillichap.com

(O) (786) 522-7065
FL #SL3118648

Highlights

  • Replaceable Rental Rates - All tenants are paying at or below market rental rates. This will provide further stability to the rent roll and long-term upside in the future.

  • No Near-Term Capital Expenditures Needed - Subject property has received $1,500,000 in capital improvements including a full exterior building remodel, new parking lot, new pylon signage, and landscaping upgrades.

  • Above average traffic counts of more than 68,500 cars per day and over 1,100 feet of frontage on E Colonial Drive. A population density of more than 313,000 people live within a 5-mile radius.

  • Long-Term Tenants - Subject property has a strong occupancy history with 56 Percent of the GLA having exercised their renewal option or extended their lease in recent years. Two-thirds of the tenants have been in occupancy for six years or longer.

  • Leasehold Interest - Being a leasehold interest sale, the improvements are subject to a long-term Land Lease with the Greater Orlando Aviation Authority (GOAA). There are 15 years remaining on the current Land Lease that includes one additional 10-year option period for the Lessee/Investor.

  • Located in Heart of Prime Retail Corridor - Shoppes At Baldwin Park is centrally located in the heart of Orlando. National Retailers including Dicks Sporting Goods, Miller’s Ale House, Chick-Fil-A, Dillard’s, Best Buy, Taco Bell, Aldi, Bed Bath and Beyond, PetSmart, Verizon, Bank of America and dozens of other national retailers are located within a one-mile radius of the property.

Description

Marcus & Millichap is pleased to present Shoppes at Baldwin Park, a truly rare investment opportunity for an investor to purchase an 100% occupied shopping center with a proven track record of success in the market of Orlando, FL. Shoppes at Baldwin Park has a strong occupancy history with 56 Percent of the GLA having exercised their renewal option or extended their lease in recent years. Two-thirds of the tenants have been in occupancy for six years or longer. The proven success of the existing tenants will provide stability to the future income stream and mitigate investor risk. Shoppes At Baldwin Park is also centrally located in the heart of Orlando. National Retailers including Dicks Sporting Goods, Miller’s Ale House, Chick-Fil-A, Dillard’s, Best Buy, Taco Bell, Aldi, Bed Bath and Beyond, PetSmart, Verizon, Bank of America and dozens of other national retailers are located within a one-mile radius of the property. Shoppes at Baldwin Park is located immediately outside of the Orlando Executive Airport, which sees more than 136,000 take offs and landings per year. It is considered to be one of the busiest airports in the Orlando MSA, second only to Orlando International Airport. Being a leasehold interest sale, the improvements are subject to a long-term Land Lease with the Greater Orlando Aviation Authority (GOAA). This prime location has a variety of phenomenal core real estate drivers that ensure future appreciation and stability of the location.