rjs landing teaser14
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This offering provides an outstanding opportunity to acquire two exceptional retail assets, The Landing atTradition and/or Tradition Village Center, both located within the acclaimed master-planned communityof Tradition, in Port St. Lucie, Florida, the nation’s 7th fastest growing city in 2007. This burgeoning8,200-acre live-shop-play community has earned scores of accolades for its innovative design and imple-mentation. It will grow to include over 18,000 homes, a world-class 150-acre biotech research park housingthe Torrey Pines Institute, a 1.1 million sf Taubman regional mall, and enticing ancillary office and retailassets. The Landing and Tradition Village Center are strategically situated in St. Lucie County's mostactive corridor and provide exceptional retail offerings to a previously underserved market.
Developed by Core Communities, LLC
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ssuurrggeedd bbyy 66..33 ppeerrcceenntt, bringing its July 2007 population to 151,391. St. Lucie County has
consistently ranked among the fastest growing in the nation, achieving a 133% population
increase from 2000 and 2007, and is expected to grow by an annual rate of 4% through 2013.
"CORE’S PROPERTIES COMPRISE THE LARGEST, FULLY ENTITLED, REALESTATE DEVELOPMENTS ON I-95 IN THE U.S." Source: Hank Fishkind
Core Communities, LLC has a future development pipeline of over 5,000,000 sf of commercial space
and roughly 7,000 acres of bulk land, with an aggregate projected value of nearly $3.2 billion.
In addition to Tradition Village Center and The Landing, Tradition FL features a 150 acre Biotech
& Life Sciences Research Park (currently underway), approximately 2,000 existing residences,
plans for a 30 acre Retail Outlet center, a 300 unit Assisted Living Facility, a Water Park, and
entitlements for approximately 18,000 residences, 300 hospital beds, 650 hotel rooms, 3.65M sf
retail (including plans for a 1.1M sf regional mall), and 4.65M sf Office/Flex/Industrial space.
TRADITION IS THE CENTER OF THE BURGEONING EXPANSION OFBIOTECH AND LIFE SCIENCES RESEARCH
The Florida Center for Innovation at Tradition will includes Torrey Pines Institute for Molecular
Studies (late 2008/early 2009 opening), Martin Memorial Hospital, Mann Research Center, and
the Oregon health & Science University’s Vaccine Gene Therapy Institute (VGTI). Torrey
Pines & VGTI (combined) are expected to generate an average of 2,378 jobs, increasing to over
6,608 within 20 years, building a strong employment corridor.
Village Pointe, just south of the Landing and Tradition Village Center is a planned mixed-use
development comprised of 400,000 sf of retail and 200,000 sf of office. It will also feature a 5,000
person Civic Amphitheater that will become the new host to regional events and concerts.
Tradition Town Center will include a 1.1 million sf regional mall currently being planned by
Taubman Centers Inc. It will be located on 220 acres, at the northwest corner of Becker Road
and I-95, just south of the subject centers. The development will also include 400,000 sf of
office space, 250 hotel rooms, and 900 residential units, with a proposed completion by 2012.
Corporate Place at Tradition, a 50-acre site directly to the north of The Landing will
feature 600,000 sf of office space. From the earliest planning stages, the Town of Tradition has
heralded the development of the region’s first world-class corporate park, a site designed to
attract leading employers interested in the Treasure Coast’s educated work force and attractive
quality of life.
Access to the area will soon be enhanced as the county increases the number of I-95 interchanges
to cater to this region’s tremendous growth. The Becker Road interchange (just south of the sub-
ject’s Gatlin Blvd interchange) will be completed by late summer 2009, and the Crosstown
Parkway (just north of Gatlin Blvd) will be completed in 2009.
The Landing is a 498,332 sf power center, anchored by a
138,468 sf Target (not included), with miles of prime, direct
I-95 frontage and its own exit off of I-95. The Landing is
comprised of 91% national credit retailers,
as well as an enticing mix of shops and
restaurants tailored to this vibrant trade area.
The wide array of national tenants draws
people from throughout the county and
beyond. For many of the national tenants,
such as Bed Bath & Beyond, T.J. Maxx,
Sports Authority, Babies “R” Us, and others,
this represents their only location within St.
Lucie County. As the acclaimed community
of Tradition continues its remarkable growth,
The Landing is poised to capture the tremen-
dous influx of shoppers to the area.
Tenant SF % of GLA Exp Date Annual Rent Rent PSF
LA Fitness 45,209 12.56% Mar-2023 $723,344 $16.00 Sports Authority 40,360 11.22% Jan-2018 $594,351 $14.73 Bed Bath & Beyond 31,214 8.67% Jan-2018 $342,105 $10.96 Babies R Us 30,795 8.56% Jan-2018 $220,000 $7.14 TJ Maxx 29,968 8.33% Aug-2017 $352,124 $11.75 Michaels 21,190 5.89% Sep-2017 $275,470 $13.00 PetSmart 20,240 5.62% Jan-2018 $308,294 $15.23 Office Max 17,964 4.99% Mar-2018 $323,352 $18.00 Old Navy 15,106 4.20% Oct-2012 $226,590 $15.00 Pier 1 Imports 10,841 3.01% Sep-2017 $178,877 $16.50 Ulta Cosmetics 10,146 2.82% Nov-2017 $253,650 $25.00 Dress Barn 7,592 2.11% Dec-2012 $167,024 $22.00 Lane Bryant 7,517 2.09% Jan-2013 $168,750 $22.45 Famous Footwear 6,962 1.93% Aug-2012 $132,278 $19.00 Mattress Firm 5,399 1.50% Aug-2012 $148,473 $27.50 Other Tenants < 5,000 sq ft 32,929 9.15%
Subtotal 333,432 92.66%Vacant Space 26,432 7.34%Total 359,864 100.00%
THE LANDING
STABILIZED NOI $5,820,000
Occupancy 93%
Year Built 2007
GLA 359,864 sf (498,332 sf with Target)
Site Area 42.8 acres (1,866,371 sf)
Parking 1,707 spaces; 4.7/1,000 sf
TRADITION VILLAGE CENTER
STABILIZED NOI $1,783,000
Occupancy 100%
Year Built 2006
GLA 112,421 sf
Site Area 9.2 acres (398,574 sf)
Parking 523 spaces; 4.7/1,000 sf
Tradition Village Center is a 112,421 sf pedestrian friendly
retail and office development forming the heart of the
Tradition town center. This enticing asset is anchored by
a 45,600 sf Publix Supermarket serving the
needs of the 2,000 existing residential
units in the community, and beyond.
Tradition will grow to include over 18,000
housing units. Complementing Publix is a
host of shops, restaurants and offices, and a
191-space two-floor parking structure.
The center is encircled by a 32-acre lake,
various parks, and the Tradition Town Hall,
forming Tradition Square, the site of numerous local
events, including concerts and festivals for residents of
all ages.
Tenant SF % of GLA Exp Date Annual Rent Rent PSF
Publix 45,600 40.56% Mar-2026 $396,264 $8.69 Core Communities 14,491 12.89% Jun-2013 $362,275 $25.00 Kimley-Horn & Associates 9,913 8.82% Aug-2010 $210,334 $21.22 Home Town Cable 5,877 5.23% Oct-2011 $115,013 $19.57 Weiss Handler 3,150 2.80% Mar-2012 $85,097 $27.01 Brown & Brown Insurance 3,056 2.72% Apr-2011 $56,536 $18.50 Premier Wellness 2,982 2.65% Jul-2013 $60,108 $20.16 Johnny V's Pizza 2,102 1.87% Aug-2016 $33,632 $16.00 Fishkind & Associates 2,002 1.78% Feb-2012 $50,050 $25.00 Other Tenants < 2,000 sq ft 23,248 20.68%
Subtotal 112,421 100.00%Vacant Space 0 0%Total 112,421 100.00%
For More Information Please Call The Exclusive Agent: RJS Realty Group, Inc.
70 SE 4th Avenue, Delray Beach, Florida 33483 • Phone: 561-659-9771 • Fax: 561-659-9773
Steve Miskew, Managing Director Bob Sullivan, President
561-659-9771 ext. 2 561-659-9771 ext. 1