July 31, 2022 – Michael Talbert of Horvath & Tremblay has successfully completed the sale of Amscot in Lakeland, Florida. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete this transaction at a sale price of $1,125,000.
Amscot is located at 3532 & 3536 South Florida Avenue in Lakeland, Florida. Amscot has operated at the Property since February 2005, and currently has 2+ years remaining on its double-net lease, with three (3), 3-year renewal options remaining. The lease features attractive 6% rent increases at the beginning of each option period. The lease features a corporate guaranty from Amscot Financial, which operates nearly 240 branch locations in the Tampa Bay, Orlando and Miami media markets. The Property is situated at the signalized intersection of South Florida Avenue and Eastway Drive. The location is directly across the street from the Merchants Walk shopping center and a Walmart Supercenter. South Florida Avenue boasts an extensive retail corridor with numerous national tenants and prominent shopping centers driving traffic to the area. More than 41,400 vehicles per day pass by the Property on South Florida Avenue. Additionally, the area is surrounded by dense residential neighborhoods, providing a strong consumer base. The Property is located one block north of Polk Parkway.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.