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Shoppes at Columbia Crossing, Lake City, FL

Shoppes at Columbia Crossing

FL, United States

Price $3,660,900
Cap Rate
NOI
Lease Term Various
Lease Type
Rental Increases Various
Year Built 2016
Building Size 7,613 SF
Lot Size 1.21 Acres (52,708 SF)
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

100% LEASED MULTI-TENANT SHOPPING CENTER
» 100% leased to national tenants with strong brand recognition
» Scheduled rent increases in primary terms and option periods, providing a hedge against inflation
» Multi-tenant shopping center offers investment diversification

HARD CORNER, HIGH-TRAFFIC LOCATION
» Strategically located at the signalized hard corner of Southwest Real Terrace and West U.S. Highway 90
» 42,000 vehicles per day directly in front of the site
» U.S. Highway 90 is Florida’s major east-west route through major population centers, including Jacksonville and Tallahassee
» Convenient access to Interstate 75 – 40,500 AADT
» Interstate 75 is the primary north-south route for much of Florida’s tourist and commercial traffic

PRIME LOCATION NEAR LAKE CITY MALL
» Located within walking distance of Lake City Mall
» Only mall in five-county primary trade area
» Primary shopping destination for nearly 200,000 people

BRAND NEW 2016 CONSTRUCTION
» High-quality construction featuring the latest store designs and concepts
» Brand new building, limiting near-term deferred maintenance or capital costs
» Features drive-thru window and two outdoor seating areas

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is located at the signalized hard corner of Southwest Real Terrace and West U.S. Highway 90, with excellent access and visibility to 42,000 vehicles per day. U.S. Highway 90 is Lake City’s primary retail corridor and connects Lake City to large metropolitan areas, including Jacksonville and Tallahassee. Access to Interstate 75, Florida’s main north-south freeway, is half a mile from the site. Interstate 75 is a popular route for tourist and commercial traffic and experiences a high traffic volume of 40,500 vehicles per day.

Located in Lake City’s high-traffic, leading retail area, the property is surrounded by major national tenants, including Walmart Supercenter, Lowe’s, Home Depot, and Regal Cinemas. Lake City Mall is within walking distance of the site. Anchored by Belk, JCPenney, Michaels, and T.J.Maxx, Lake City Mall has a strong base of national retailers, including Bath & Body Works, Hibbett Sporting Goods, Payless Shoes, and Kay Jewelers. The mall is the only enclosed mall in its primary trade area and serves as the prime shopping destination for residents of Columbia, Suwannee, Union, Baker, and Hamilton Counties.

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