2210-2282 Weston Road - Weston, FL 33326

Listing Price:	$20,650,000
CAP Rate:	6.04%
Proforma CAP Rate:	6.32%
Lot Size:	4.90 Acres
Price per SF:	$575.02
Year Built:	1999
Rentable SF:	35,912 SF

INVESTMENT HIGHLIGHTS

• Rare, Trophy Weston Lifestyle Shopping Center
• Located on Signalized Corner of Weston Road and N. Commerce Parkway
• Diverse Mix of Internet-Proof, Service-Oriented Retail Tenants
• 58% of Existing Tenancy Consists of National/Regional Concepts
• Leases have Aggressive Annual Rent Increases
• Assumable Loan at a Favorable, Fixed Interest Rate of 4.26%
• High-End Waterfront Shopping Center Features Boardwalk and Outdoor Seating
• Recent Capital Improvements: Newly Painted (2018), New Roof (2015), Fire System & Landscaping
• Excellent Curb Appeal with Attractive Landscaping and Abundant Parking

PROPERTY DESCRIPTION

Institutional Property Advisors is pleased to present the sale of Waterway Shoppes of Weston, a 36,000 square foot trophy shopping center in the exclusive submarket of Weston, Florida. One of Weston’s premier shopping centers, the property is located on the signalized corner of Weston Road and North Commerce Parkway, just one block from the I-75 exit ramp at Royal Palm Boulevard. Waterway Shoppes has excellent curb appeal, with outdoor seating for its restaurant tenants along a waterfront boardwalk in front of a small lake. The property also features recent landscaping improvements, abundant parking with over six spaces per 1,000 square feet and a brand-new roof as of 2015. Waterway Shoppes features a diverse tenant mix of internet proof tenants, including various restaurants, a beauty salon, wireless store, professional services, fitness and health care tenants. 58% of the occupied space consists of national or regional tenants, each occupying small shop space ranging from 980 to 6,000 square feet, with aggressive annual rent increases, ensuring strong NOI growth into the future. There is an existing loan on the property that must be assumed by a Buyer which has a favorable fixed interest rate of 4.26%, resulting in attractive cash flow after debt service. Weston is unquestionably one of South Florida’s strongest retail submarkets, achieving some of the highest shop rental rates for a suburban location in the region and maintaining an historical average occupancy rate of more than 95%. Waterway Shoppes of Weston is a rare opportunity to acquire a trophy, service-oriented shopping center in one of South Florida’s most attractive and affluent submarkets. The lack of developable land combined with strong demographic growth will continue to fuel high demand and rental rate growth.