Jones Loop Crossing

Jones Loop Crossing
9298 Mac Ever Street
Punta Gorda, FL 33950

Jones Loop Crossing

LOCATION

Jones Loop Crossing
9298 Mac Ever Street
Punta Gorda, FL 33950

SUMMARY

Property Purchase Date:

October 3, 2024

Project Type:

Retail Development

Fund:

BIG LEGACY FUND II

Year:

2025

Total Capitalization

$34,200,000

BIG Equity:

$12,480,000

Total Equity:

$12,480,000

Lease Term:

10-15 Years, NN/NNN | $2,650,000 NOI

Tenants:

Starbucks, Panera, Chipotle, Mavis Tires, Chick-fil-a, Aspen Dental

INVESTMENT STRATEGY

18.8 acre retail and medical office development for Chick-fil-a, Starbucks, Chipotle, Aspen Dental, Panera, Mavis Tires and Brakes among many other tenants. BIG sourced the development deal from existing relationship to purchase an 18.8 (14 usable) acre tract in October 2024. This site had been owned by a single family for a long time, and became available due to a death in the family. This provided a unique opportunity to develop a project in an emerging market where few tenants have existing locations. The permitting process is complete for all parcels with signed leases and site work is underway.



BIG intends to place permanent financing on this project upon rent commencement and hold for the period of the fund.



There are over 4,000 homes under development in the immediate trade area, and the site is located in a dense retail corridor near the I-75 on/off ramp providing an expanded customer base for the retail tenants on the project.

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