A German Family Office, represented by International Capital, purchased an Aldi ground lease in Lake Wales, Florida.
The lease for the approx. 3.3-acre site improved with a ~20,000 SF grocery store started in December 2018 and has an initial term of 20 years (plus six 5-year options). The property is located on a busy intersection amongst other major retailers in Lake Wales, a community in Central Florida halfway between Tampa and Orlando.
Lake Wales is part of the Lakeland-Winter Haven MSA with a total population of about 666,000. Legoland Florida, with its amusement and water parks and hotel facilities, is less than 5 miles away. Aldi’s 540,000 SF logistics and distribution center as well as the company’s regional headquarter in Central Florida are located less than 10 miles north in Haines City.
This purchase represents the first US real estate investment for the international client. International Capital serves this client in their strategy to build a multi-property portfolio of well-located and attractive properties in the US. These may include ground leases and other suitable properties of well-known credit tenants.
Martina Crevecoeur, CCIM, International Capital’s Senior Vice President of Acquisitions/Dispositions represented the Family Office in the transaction.