Forest Oaks Shopping Center
Pensacola, FL
Forest Oaks Shopping Center was acquired in 2015 for $4,899,000 and an occupancy of 37%. The investment group spent a mere $200,000 renovating the center and brought in several tenants with whom they had a pre-existing relationship, bringing occupancy almost immediately to 83%. In 2018, this property was sold to a second investment group controlled by one of JRE Private Equity Group’s principals, Donnie Jarreau, for $8,750,000. At the time of sale, the property was 90% occupied, and NOI was $748,000. Today, this center is 100% occupied, and NOI is over $900,000, with a market value of nearly $12,000,000.
Address:
5007 North Davis Highway, Pensacola, FL
Total Square Footage:
114,000
Notable Tenants:
- Regymen Fitness
- Cycle Gear
- State Farm
- Home Outlet
- Sky Zone
- Dollar General
- CSL Plasma
