•	The tenant recently signed a brand new 10-year lease with 2 (5-year) option periods to extend, demonstrating their commitment to the site
•	The lease features 10% rental increases every 5 years throughout the initial term and options, growing NOI and hedging against inflation
•	The landlord is responsible for CAM, Taxes, and Insurance; however, gets reimbursed for all operating expenses
•	Ideal, low-management investment opportunity in a state with no state
income tax
•	The lease is signed by the corporate entity (S&P: BBB)
•	Founded in 1898, Cox Communications is the largest private broadband provider in the Unite States
•	Cox Enterprises is a global company with 50,000 employees and $23B in revenue
•	Cox Communications, a subsidiary of Cox Enterprises, is the third-largest cable television provider in the U.S. serving approximately 6.5M customers, including 2.9M digital cable subscribers, 3.5M internet subscribers, and almost 3.2M digital telephone subscribers, making it the seventh-largest telephone carrier in the country
•	A Fortune 500 company, Cox Communications achieved over $11B in revenue in 2023

Offering Memorandum

•	The asset is ideally adjacent to The Marketplace (90K+ SF), Thornbrook Village Shopping Center (82K+ SF), and Millhopper Shopping Center (80K+ SF)
•	The Oaks Mall (772K+ SF with 119 stores) is a quick 6-minute drive from
the property
•	The surrounding national/credit tenants include The Fresh Market, Publix, PetSmart, CVS Pharmacy, Starbucks, The Home Depot, T.J. Maxx, and others
•	Publix across the street in Millhopper Square is ranked in the top 85th percentile of Publix’s nationwide with 1.2M visits per year
•	The strong tenant presence drives a loyal, local consumer base to the area, promotes crossover store exposure, and contributes to the local economy

Gainesville, FL - Cox Communications

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<p>Ivy Kwon joined SRS Real Estate Partners in 2017 and is a Senior Marketing Associate in the Newport Beach office. Ivy is responsible for online marketing including social media and email marketing for SRS’ Capital Markets team. She also oversees pipeline management and coordinates events. Before joining SRS, Ivy worked in the entertainment industry doing marketing and merchandising. </p><p>Ivy has a BA degree from Chapman University. </p>

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Gainesville, FL - Cox Communications

Description

Location

Contact

Kyle Fant

Britt Raymond

Patrick Nutt

William Wamble