Investment Overview

Berkshire Oaks consists of six buildings totaling 245,550-SF and is approximately 98% Occupied by a strong tenant mix: Kohl’s, Ashley, Petco, Real Truck, Family Dollar, DaVita, Anytime Fitness, Guitar Center and more... All of the tenants occupying the premises are on NNN lease, reimbursing for CAM, Insurance and Taxes. Kohl’s is on a ground lease and self maintains their premises while reimbursing for their share of taxes. Kohl’s, the anchor tenant, has a fixed 3% rent increase scheduled for 2024. Ashley benefits from annual increases of $0.25 per square foot. Real Truck’s lease agreement features annual rent adjustments tied to the Consumer Price Index (CPI). Additionally, DaVita and Gator’s Dockside have negotiated base term increases of 12.50% and 10%, respectively. Kohl’s occupying 36% total GLA is leased through 1/31/2029, Ashley Home Store occupying approximately 20% of total GLA is leased thru 9/30/2028, and Real Truck occupying approximately 12% of total GLA is leased thru 03/31/2031. In total, approximately 68% of total GLA boasts a 6+ WALT Ratio. Two notable leases in that span of time were to Ashley Homestore for 48,000-SF and Real Truck for 30,000-SF. In addition, ownership also executed leases with DaVita, Family Dollar, Affordable Dental, Anytime Fitness, Hari OM Grocery, and My Salon. Petco Also recently extended lease for an addition 3-years. According to CoStar, retail rents in the Ocala market were rising at a 4.9% annual rate during the first quarter of 2023, and have posted an average annual gain of 4.0% over the past three years. Remaining upside via leasing the remaining 4,800-SF of shop space. Nearby tenants include: Sam’s Club, Dick’s, Dillard’s, Lowe’s, Pet Smart, Home Depot, Macy’s, JC Penney, Belk, Walmart Supercenter, Hobby Lobby, Best Buy, T J Maxx and Many More... Berkshire Oaks has 3 main access points, two on SW college road, and one on SW 43rd St Rd. The property can be seen from I-75 and is directly located next to an exit. Traffic on I-75 is in excess of 120,000, while SW college road sees over 52,000 and SW 43rd St RD shows over 20,000+ VPD