Rockledge Square I

Rockledge, Florida

 

Rockledge Square I is a 76,000 square foot Public anchored shopping center located southeast of Orlando in Rockledge, FL. Two separately owned out parcels, improved with a McDonald’s and PizzaHut, provide an additional draw to the center which is positioned along US Highway 1 with traffic counts of over 40,000 vehicles per day. The Property is the primary grocery anchored neighborhoods hopping center for residents along the west side of the Intracoastal Waterway.

     Despite a strong Publix anchor, the property was only 80% occupied at the time of PMAT’s acquisitionsand was adjacent to a 66,000 square foot vacant former Walmart suffering from severe neglect. PMAT brought the occupancy from 80% to 93%. Additionally, there was an inline CVS that, despite good salesvolume, was interested in relocation to a freestanding location per their corporate directive.