Forest Oaks - 7285 Forest Oaks Blvd, Spring Hill, FL 34606

Mike Milano, CCIM, MAI with the Milano Retail Team and Executive Managing Director at Colliers International is proud to offer for sale Forest Oaks Plaza, a 38,432 SF value add strip center located in Spring Hill, Florida (Tampa MSA). Forest Oaks contains an ideal line-up of service-oriented, e-commerce resilient tenants. There is overwhelmingly positive leasing momentum as the owner has signed 8 new leases and one expansion lease within the past year, which speaks to the strength of this location. Given this leasing trend, the property still offers significant and realistic value-add potential to increase the NOI nearly 12% through lease-up of the three (3) available spaces (13% of total GLA).

• Value-add potential through lease-up of currently unoccupied space.


• Ability to increase the NOI roughly 12.0% within a short period of time.


• Overwhelmingly positive leasing momentum – the current owner has signed leases with eight (8) new tenants and expanded one existing tenant all within the past year.


• The property is being offered at a discount to replacement cost ($152/SF)


• Ideal lineup of service-oriented, e-commerce resilient tenants.


• BVA Compass Bank at this property had $284,341,000 in deposits as of June 30, 2020. This location has the 4th highest deposits out of 44 locations in Florida.


• The average rental rate at the property is exceptionally affordable at $12.72/SF which greatly minimizes risk during uncertain economic times.


• Nearly all leases are triple net (NNN) – allowing for protection against expense increases.


• A majority of the tenants have annual rent increase, allowing for consistent NOI growth.