BROKER OF RECORD...SCOTT AYRES DeYOUNG .....FL BK 3421401
Faris Lee Investments is pleased to present the rare opportunity to acquire a single-tenant ALDI investment property located in the high growth city of Bradenton, Florida within the Tampa– Sarasota–North Port MSA. ALDI is subject to a corporately guaranteed net lease with 16 years remaining on the base term. The lease includes 10% rental escalations every 5 years during the 16 year base term, a 15.5% increase for the first option period, a 20% increase for the second option period, and a 10% increase for the third and fourth options.
The subject property has operated as a Grocery destination for the residents of Bradenton for 50+ years. ALDI assumed control of this high performing legacy grocer asset through their recent acquisition of the Winn-Dixie chain. ALDI is currently undergoing extension renovations to the property with the Opening estimated for August 2025. ALDI has displayed tremendous commitment to the site by spending $1,700,000 on renovations and agreeing to a rent commencement date nearly a year before the set estimated opening date.
The subject property is strategically positioned at the signalized intersection of Manatee Avenue West (FL-64, 45,000 VPD) and 59th Street West (17,258 VPD) with excellent visibility and access within the dense trade area. The national grocer chain will benefit from the ideal demographics that include 148,000+ residents and an average household income exceeding $111,000 within a 1-mile radius. ALDI will serve as the anchor tenant to Palma Sola Square, a 120,000 SF daily-needs shopping center with nearby national retailers including: Publix, Target, Planet Fitness and Bealls.
Bradenton is a top migration destination, ranked #4 in U-Haul’s 2023 report and #2 in net population growth nationally in 2021. The site benefits from $111K+ average household income within 1 mile and a dense trade area of 148,000+ residents within 5 miles, all in a state with no income tax.
Backed by ALDI’s U.S. corporate entity, the tenant generated $155 billion in global revenue in 2024 and is ranked #4 on NRF’s Top 50 Global Retailers list, offering exceptional credit strength in a proven location.