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JLL is pleased to offer for sale the fee simple interest in a single tenant Verizon Wireless (the “Property” or “Asset”) located in North Miami, Florida. Verizon Communications, Inc is an American telecommunications conglomerate that hosts the second largest wireless network in the nation and has a market capitalization of $230.0 Billion. The site was a 2016 build-to-suit and has nearly five years remaining on its 10-year term with two, five-year options. The tenant has 10% rent bumps every five years and sits as an out parcel to the #2 Whole Foods in Florida by number of visits. This offering presents the opportunity to acquire a generational single tenant asset located in a high-population growth area and leased to an investment-grade, industry-leading tenant with minimal landlord responsibilities.
- Generational real estate in North Miami
- Industry leading investment grade tenancy (S&P BBB+)
- Five years of term remaining on a 2016 built-to-suit
- 10% rent bumps every five years including options
- Out parcel to #2 Whole Foods by visits in all of Florida
- Frontage on Biscayne Boulevard reaching 70,000 VPD
- Located in a dense retail corridor across the street from Home Depot
- Unbeatable access to the Miami CBD, Fort Lauderdale, and Miami Beach