Investment Overview

Marcus & Millichap is pleased to exclusively present The Promenade Shoppes, for sale. Promenade Shoppes is a 2018 construction, 39,650 square foot Walmart Shadow Anchored Shopping Center located along heavily traveled West McNab Road in North Lauderdale, Florida. It is anchored by SunSouth Health Center, T-Mobile, Cricket Wireless, and Sarku Japan, along with several other strong regional tenants that service the surrounding neighborhoods and residents. The center is 100% occupied with all tenants on a triple-net (NNN) lease structure that include aggressive annual increases and multiple renewal options. 75% of tenants have 10-year terms and the majority of them have been there since the center was built. Located at the signalized intersection of West McNab Road and Avon Lane, the property also profits greatly from the robust customer base that is drawn in by the Walmart Supercenter and neighboring outparcels such as Burger King, AutoZone, and Spin Car Wash. The North Lauderdale Submarket and immediately surrounding area continues to develop and expand at a rapid rate, with several nearby multifamily, hospitality, and retail developments in progress and healthy upward-trending demographics. Customers will find excellent ingress and egress from all directions of traffic make shopping at Promenade Shoppes a pleasant experience.