Shoppes at Lake Butler - 4020 Winter Garden Vineland Rd, Winter Garden, FL 34787

Sean Glickman, CCIM, with the Milano–Glickman Retail Team and Managing Director at Colliers International is proud to offer for sale the Shoppes at Lake Butler, a 44,334 square foot unanchored shopping center and a 2,000 square foot Dunkin’ Donuts located in Winter Garden, Florida. The property is 100% occupied by a diverse mix of web resilient tenants with the largest tenant’s lease extending through May 2026. This is an excellent opportunity to acquire a fully stabilized asset with very little management responsibilities in one of the most affluent submarkets of the Orlando MSA.

LOCATED IN ONE OF ORLANDOS MOST AFFLUENT SUBMARKETS
The Windermere trade area is one of the wealthiest submarkets in the Orlando MSA as many of Orlando’s most prominent figures reside there. The trade area is also in the heart of the tourist corridor with world famous attractions like Walt Disney World and Universal Studios both just a few miles away. There are over 41,005 residents within a 3-mile radius with an average household income of $118,102. As a result, the subject property is surrounded by multiple upscale single family residential communities boasting homes valued at well over $1 million.

WELL POSITIONED IN A RAPIDLY GROWING TRADE AREA
S.R. 429 will connect and complete the Orlando loop with Interstate-4, Florida’s Turnpike, and S.R. 417 in 2018. This will dramatically improve the accessibility of an already desirable area of Winter Garden. As a result, there are over 50 subdivisions being actively built in the trade area. Also being developed at the intersection of S.R 429 and Independence Parkway is the Hamlin Town Center, a 700-acre mixed-use project. There is a high barrier to entry as all corners of the intersection are built out.

STABILIZED ASSET WITH VERY LITTLE MANAGEMENT RESPONSIBILITIES
The property is 100% leased. All of the leases are triple net which protects the owner from future increases in expenses. Additionally, a majority of the leases have provisions for annual increases offering consistent NOI growth. The property was built in 2002 and renovated in 2009. The prospective purchaser likely will not be required to address major differed maintenance issues immediately. Dunkin is on an absolute net ground lease and there are zero landlord responsibilities.

IDEAL ROSTER OF WEB RESILIENT TENANTS
The property is fully leased with a diverse mix of web resilient tenants. Cranium Academy (17,813 SF), the largest tenant representing 38% of the GLA, has a long-term lease that extends through May 2026. Discovery Church (13,625 SF), which represents 29% of the GLA, is one of Central Florida’s largest nondenominational churches, is broadcasted on TV, and invested over $500,000 into their space. Dunkin Donuts recently executed a fifteen (15) year ground lease (no landlord responsibilities) that extends through July 2030 with 12% rent increases every five (5) years and the tenant invested over $700,000 on site and building improvements.