18395 Pines Boulevard
Pembroke Pines, FL 33029 ·
3,741 SF · Retail For Sale
|Building Size||3,741 SF||Occupancy||100%|
|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|
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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