Kings Lake Center

Investment Highlights

15K SF UNANCHORED RETAIL STRIP CENTER
• Kings Lake is a 15,000 SF unanchored convenience retail strip center
• Built in 2008 and stabilized at 100% occupancy
• All Shop Space | Average suite size 2,100 SF
• E-commerce-resistant tenant mix
• All service, restaurant, or destination/experience tenants

ORGANIC NOI GROWTH | MARK TO MARKET OPPORTUNITIES
• All tenants are in their original term and have annual increases in rent | All option periods for tenants have annual increases in rent
• Average rental rate in Strip Center: $27/SF
• Average rental rate for shop space on Big Bend Rd: $40+/SF
• Opportunity to increase rents to market or lease to nationals if space becomes available

STRONG FUNDAMENTALS
• Property sits at a high traffic signalized intersection
• 2 points of Ingress/Egress
• Kings Lake has visibility front facing the road for all tenant signage

BOOMING DEVELOPMENT CORRIDOR
• $80M project for improved exit ramp for the I-75/Big Bend ramp to facilitate increased traffic counts (Click to View Article)
• Publix Super Market at The Shops at Big Bend recently completed (Located directly across from subject property)
• New 7/11 on Publix Outparcel
• Large Multifamily complexes under construction across the street
• Rapidly growing & developing residential pocket

IDEAL POSITIONING IN HIGH TRAFFIC CORRIDOR
• Center is positioned less than ½ mile from I-75 (147,000 VPD), which is building brand new exit ramps/interchange to facilitate increased & growing traffic flow
• Big Bend Rd (39,500 VPD) is the main thoroughfare from I-75 to Apollo Beach, FL
• All commuters coming from Gibsonton & Apollo Beach to the city of Tampa pass by Kings Lake Center in order to access the interstate
• Apollo Beach is a popular & thriving affluent waterfront community with year-round boating, fishing, and other water activities.

TAMPA, FLORIDA
• The property is located in the vibrant Gulf Coast city of Tampa, FL
• Situated on the west coast of Florida, Tampa is the 3rd most populous city in the state
• The Tampa Bay has the state’s largest port, responsible for 15B in annual economic impact
• Tampa has experienced significant economic growth in recent years, fueled by a booming job market and a diverse range of industries including finance, healthcare, technology, tourism, and shipping
• The city has received numerous awards and accolades for its quality of life, economic development, and sustainability initiatives – Such as Time Magazine’s award for “One of the World’s Greatest Places to Live” in 2023
• Tampa is a popular tourist destination, attracting visitors with its sunny weather, beautiful beaches, and diverse array of cultural attractions including Museums, festivals, sports events, and the history Ybor City District