Sean Glickman, CCIM, with the Milano–Glickman Retail Team and Executive Managing Director at Colliers International is proud to offer for sale Village Green Shopping Center, a 72,316 SF anchored shopping center located in Brevard County, FL. Village Green Shoppin Center is ideally positioned at the hard signalized intersection of two of Rockledge’s busiest roadways and offers great frontage, access and visibility. The property offers significant value-add potential as it is currently only 17.56% occupied and offers a great potential return on investment. This is a unique value-add/redevelopment opportunity in a well-located area on Florida’s Space Coast.
INVESTMENT HIGHLIGHTS
- Significant value-add potential through lease-up - currently 17.56% occupied.
- Roughly 8.68± acre site with redevelopment potential.
- Potential ROI of 145% in three (3) years.
- At the hard-signalized intersection of two main roadways with high traffic counts.
- Multiple points of ingress/egress into the property.
- Great frontage and visibility along the main roadway.
- Nearby national/credit retailers.
- Healthy demographics surrounding the property.
- Cocoa Beach is a well know tourist destination.
- Brevard County has one of the highest agglomeration of engineers in the country.
- Proximity to John F Kennedy Air Force Base, Nasa’s space launch facility.
- One town over from Viera, Brevard County’s fastest growing community.
- The property is situated at the heart of the CRA (Community Redevelopment Agency at the City of Rockledge) and is approved for mixed use or multifamily redevelopment.
- Over 1,000 residential units are currently under construction within a 5-minute drive of Village Green.
- The CRA offers façade and signage grants.
- The City of Rockledge welcomes and look forward to working with the developer on this re-development project.
- MF density bonus; depending on design components; can be increased up to 25 units per acre (per city of Rockledge).
