This Retail Property is Off-Market.

18395 Pines Boulevard
Pembroke Pines, FL 33029 ·

3,741 SF · Retail For Sale

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Citibank, N.A.

Price N/A Cap Rate 6.15%
Building Size 3,741 SF Occupancy 100%
Property Type Retail Tenancy Single
Property Sub-type Retail (Other) Lot Size 40,510 SF
Property Use Type Net Lease Investment with less than 1 year left on lease
Listing ID: 17850911 Date Created: 09/27/2012 Last Updated: 05/13/2013

Description

The subject property is a freestanding Citibank located in Pembrook Pines, Florida. Pembrook Pines is under 30 miles from Ft. Lauderdale. The property is leased to Citibank, N.A. under an absolute triple-net lease that contains no management responsibility. Citibank recently extended its lease by 10 years, until February, 2023, and also has an additional two, fiveyear option periods. The lease contains scheduled annual rent increases of 2%.

This trophy location is on the corner of a signalized intersection of two major thoroughfares and has excellent visibility, traffic counts and access. The property is a pad to the Shoppes of Silverlake, a Publix Super Market anchored center. Directly across the street is a Walmart Supercenter with Walgreens and Mobil outparcels. LA Fitness, Chase Bank, McDonald's and BP are located caddy corner to the property. This dense area is also surrounded by many homes. The property has exceptional demographics with a population of over 80,000 within three-miles and 150,000 within five-miles. The average household income within three miles is over $111,000. Additional area retailers include Costco, CVS/pharmacy, Bank of America, IHOP, AT&T, etc

Citibank represents the consumer banking operations of financial services giant Citigroup. The unit has more than 1,000 branches in more than a dozen US states. California, New York, and Texas are its largest markets, but the bank also has a significant presence in the Northeast, as well as in Chicago and Miami. It has about 300 international locations in some 40 countries.

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18395 Pines Boulevard, Pembroke Pines, FL 33029 (Broward County)

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