Forged Real Estate is pleased to exclusively offer the opportunity to acquire the fee simple interest in a 115,000 square foot retail building leased to Dick’s Sporting Goods (“Dick’s”) and the remainder features a big box value-add opportunity on the ground floor (the “Property”). The property is located in Sanford, a city in the income tax-free state of Florida. Dick’s Sporting Goods is part of the 1.1 million square foot Seminole Towne Center, located adjacent to Interstate 4 which boasts a tremendous 145,500 VPD and is seconds from Florida State Road 417 (45,750 VPD) and Florida State Road 46 (36,500 VPD), all of which are major thoroughfares in the active corridor. Dick’s is currently operating on the second (2nd) level of the building on a net lease with over four (4+) years remaining. Their lease features two (2), five (5) year options remaining with a 4% rent bump at the start of the next option period. This offering also features a rare, big box value-add opportunity with over 60,000 square feet on the lower level of the property. It is one of the only properties available in the area with more than 40,000 square feet of retail space available for lease. Just nineteen (19) miles northeast of Orlando, Dick’s Sporting Goods is located within the Orlando-Kissimmee-Sanford Metropolitan Statistical Area that is inhabited by more than 2.69 million residents. Annual commercial sales volume in Sanford has averaged $57.4 million over the past five years, including a 12-month high of $115 million over that stretch. Additionally, the recorded transaction volume here reached $64.4 million in the past year, primarily driven by the general retail sector (CoStar). Within three (3) miles of the property there are over 21.3 million square feet of commercial property including 9.3 million square feet of industrial space, 6.7 million square feet of office space and 5.3 million square feet of retail, further exemplifying this corridor as a central location for all commercial property types. The 5-mile area surrounding the property has seen excellent growth with an increase of more than 18% in both the population and number of households since 2010 for a current total of 122,000 and 47,000, respectively. This same area boasts an average household income of over $111,000 and is projected to continue growing through 2027. As the leading, omni-channel sporting goods retailer, Dick’s Sporting Goods, Inc. holds an 8% market share, the largest among all sporting goods retailers. At their 730+ Dick’s Sporting Goods branded stores they offer an extensive assortment of high-quality sports equipment, apparel, footwear, and accessories. In November 2022, Dick’s reported their Q3 2022 earnings (which ended November 2022) with net sales of $3.0 billion, a 50.8% increase versus Q3 2019.