116,096 SF Shopping Center
Purchase date: January 2022
Holly Hill Plaza is a 116,096 square foot grocery-anchored shopping center located in Daytona, FL. The Property is anchored by a Winn-Dixie supermarket who will be extending their lease to 2028 (with three 5-year options) and are undertaking a $2,000,000 store renovation. In addition to Winn Dixie, the Property has a strong in-place tenant base including national retailers (Rent-A-Center, Goodwill Industries and Papa John’s). The Property is currently 94% occupied in a market with limited future threats for retail development.
Equity Cost: $5,600,000
Initial Annual Yield: 7%