Abbey Crossings

Abbey Crossings
SEC McKendree and SR 52
San Antonio, FL 33576

Abbey Crossings

LOCATION

Abbey Crossings
SEC McKendree and SR 52
San Antonio, FL 33576

SUMMARY

Property Purchase Date:

November 7, 2023

Project Type:

Mixed-Use Land Development

Fund:

BIG FUND IV & V

Year:

2022

Total Capitalization

$76 MM

BIG Equity:

$1,550,000

Total Equity:

$11,000,000

Lease Term:

10 – 20 Years, NN and NNN

Tenants:

N/A

INVESTMENT STRATEGY

Acquired two parcels totaling ~330 acres in Pasco County in November 2023 and sold 116 of those acres to McCraney Properties for $7.5 MM. This project will have a total cost of $65 MM and we are about to break ground on the roadways and the retail outparcels. We are under contract with Lennar Homes and a small office park developer for $7.8 MM for 30 acres.

PROJECT OVERVIEW

Abbey Crossings development project, one of the largest development projects in the United States. Abbey Crossings is a 330-acre master planned urban development with entitlements for 1,200,000 SF of Industrial, 400,000 SF of Retail, 1,000 Apartment Units, and 400,000 SF of Office and Commercial Uses. Located just 30 minutes from downtown Tampa in one of the fastest growing counties in the United States, Abbey Crossings is poised to capitalize on the population and income growth sweeping the Tampa MSA.

Permits for horizontal infrastructure will be procured in May 2025 and LOIs, leases, and PSAs have been signed with Walmart, Chase Bank, Panera, Chipotle, Dunkin’ Donuts, Del Taco, Panda Express, Wawa, and McDonald’s with expected delivery in Q1-Q2 2026. BIG has a fully executed LOI and is finalizing the terms of a contract for 20 acres with a national apartment developer for 330 units.

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