Property Details for 1300 Posner Blvd

Year built

2008

Lot size

55.00 lot acres

Property size

460,193 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

Posner Commons, located at 1300 Posner Blvd, Davenport, FL 33837, presents a compelling investment opportunity. This 460,193 square foot, multi-tenant shopping center boasts a 95.5% occupancy rate and is situated on a 55-acre lot zoned RAC (Regional Activity Center). Built in 2008, the property features a strong lineup of national anchor and junior anchor tenants including Dollar Tree, Best Buy, PetSmart, Staples, Dick's Sporting Goods, Michaels, JCPenney, Cinepolis, Ross Dress for Less, Ashley Furniture, and Books-A-Million. Benefiting from its prime location seven miles from Disney World, at the intersection of I-4 and US Highway 27, the center enjoys high traffic volume exceeding 200,000 cars daily and significant tourist traffic from Orlando's 74 million annual visitors. The property's strategic position is further enhanced by its proximity to a rapidly growing residential area with nearly 37,000 residential units planned or under construction within a seven-mile radius. The property also benefits from the adjacency of a Target with a grocery store and BJ's Wholesale Club, which opened in February 2023. Significant upside potential exists through lease-up of approximately 20,000 square feet of available space and mark-to-market opportunities with several tenants. The weighted average lease duration exceeds 13 years, with 88% of the gross leasable area and 86% of revenue derived from national and regional tenants. A separately parceled, three-tenant strip building at the main entrance is included in the sale. This fee-simple ownership offers a rare chance to acquire a dominant retail asset at below replacement cost.

Location Insight

City

Four Corners

County

Polk

State

Florida

Longitude

-81.6452

Latitude

28.2266