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Miscellaneous

DEFY Palm Springs

964 S Congress Ave, Palm Springs, FL 33406

Listing Price: $11,000,000

Cap Rate
7.00%
Tenant Name
Circus Trix
Years Remaining On Lease
10.5
Gross SF
36,000
Guarantor
Corporate Guarantee
Rentable SF
36,000
Price/Gross SF
$305.56
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$21.39

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale DEFY Ultimate Extreme Air Experience in Palm Beach, FL. Built in 2019, this 36,000 square foot facility sits on 2.47 acres of land and is offered Fee Simple. It has a true NNN lease with annual increases that runs through January 2032 and four 5 years options to extend the lease. It is corporately guaranteed by Circustrix Holdings, LLC based in Provo, UT. CircusTrix is an American developer, operator and franchisor of indoor trampoline and extreme recreation parks. The company operates over 319 parks in the United States, Europe, and Asia making it the largest trampoline park operator in the world, the largest operator of extreme obstacle courses in the United States, and the operator of the largest trampoline park in Germany. Brands include: Circus Trix, High Rise, 2Infinity, Cloud9, Defy, Defy Gravity, Gravady, Gravitopia, HighHeaven, JumpJam, Jumpology, Planet3, Rockin' Jump, Ryze, Sky Zone, Skywalk, and Superfly. In 2017, they closed a $200 million equity raise with Palladium Equity Partners.
Located in Palm Springs, FL (West Palm Beach MSA), the subject properties owner will benefit from Florida being an income tax free state. The offering includes two pad ready parcels totaling 3.7 acres and has an estimated value of $2,500,000. They are currently zoned general commercial with all utilities and infrastructure in place. The subject property has a 5 mile population of 302,876 with average household income of $62,154 and 27,741 vehicles passing the site daily. It is a quarter mile to the Trump International Golf Club , 1.5 miles to Palm Beach International Airport, and 1 mile west of I-95.
The property zoning falls under the jurisdiction of the Village Of Palms Springs. Declarations Of Restrictions, Covenants, and Conditions and Grant Of Easements have already been recorded for the entire 7.31 acre site. Parcel B has been approved for a 25,928 SF retail building and Parcel C has been approved for a 4,800 SF restaurant with outdoor seating. VOPS Zoning Code Sec. 34-822 - Permitted uses under the GC commercial general land development district shall be limited to the following: 1) All permitted uses in the CN commercial neighborhood land development district, 2) Financial Institutions, 3) Retail sales and services, 4) Personal services, 5) Commercial Planned Developments.

Investment Highlights

  • New Absolute NNN In FL Offered At $11,000,000
  • 2032 Lease Expiration With Annual Increases
  • Worlds Largest Operator with 319 Locations
  • 5 Mile Population of 302,876 And $62,154 Household Income
  • Includes 2 Pad Sites Totaling 3.7 Acres With All Infrastructure In Place
  • Located Near Palm Beach Airport, Trump Golf Club, and I-95

Exclusively Listed By

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    (954) 245-3400

    License(s) FL: BK3154667

    Florida

Listing Price: $11,000,000

Cap Rate
7.00%
Tenant Name
Circus Trix
Years Remaining On Lease
10.5
Gross SF
36,000
Guarantor
Corporate Guarantee
Rentable SF
36,000
Price/Gross SF
$305.56
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$21.39

Investment Highlights

  • New Absolute NNN In FL Offered At $11,000,000
  • 2032 Lease Expiration With Annual Increases
  • Worlds Largest Operator with 319 Locations
  • 5 Mile Population of 302,876 And $62,154 Household Income
  • Includes 2 Pad Sites Totaling 3.7 Acres With All Infrastructure In Place
  • Located Near Palm Beach Airport, Trump Golf Club, and I-95

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale DEFY Ultimate Extreme Air Experience in Palm Beach, FL. Built in 2019, this 36,000 square foot facility sits on 2.47 acres of land and is offered Fee Simple. It has a true NNN lease with annual increases that runs through January 2032 and four 5 years options to extend the lease. It is corporately guaranteed by Circustrix Holdings, LLC based in Provo, UT. CircusTrix is an American developer, operator and franchisor of indoor trampoline and extreme recreation parks. The company operates over 319 parks in the United States, Europe, and Asia making it the largest trampoline park operator in the world, the largest operator of extreme obstacle courses in the United States, and the operator of the largest trampoline park in Germany. Brands include: Circus Trix, High Rise, 2Infinity, Cloud9, Defy, Defy Gravity, Gravady, Gravitopia, HighHeaven, JumpJam, Jumpology, Planet3, Rockin' Jump, Ryze, Sky Zone, Skywalk, and Superfly. In 2017, they closed a $200 million equity raise with Palladium Equity Partners.
Located in Palm Springs, FL (West Palm Beach MSA), the subject properties owner will benefit from Florida being an income tax free state. The offering includes two pad ready parcels totaling 3.7 acres and has an estimated value of $2,500,000. They are currently zoned general commercial with all utilities and infrastructure in place. The subject property has a 5 mile population of 302,876 with average household income of $62,154 and 27,741 vehicles passing the site daily. It is a quarter mile to the Trump International Golf Club , 1.5 miles to Palm Beach International Airport, and 1 mile west of I-95.
The property zoning falls under the jurisdiction of the Village Of Palms Springs. Declarations Of Restrictions, Covenants, and Conditions and Grant Of Easements have already been recorded for the entire 7.31 acre site. Parcel B has been approved for a 25,928 SF retail building and Parcel C has been approved for a 4,800 SF restaurant with outdoor seating. VOPS Zoning Code Sec. 34-822 - Permitted uses under the GC commercial general land development district shall be limited to the following: 1) All permitted uses in the CN commercial neighborhood land development district, 2) Financial Institutions, 3) Retail sales and services, 4) Personal services, 5) Commercial Planned Developments.

Exclusively Listed By

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    (954) 245-3400

    License(s): FL: BK3154667

    Florida

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