New lease deal sets the tone for One Liberty’s Sunrise, Florida center

One Liberty Properties’ Sunrise, Florida shopping center just landed a new lease that shores up income at a key South Florida asset. Here is what the deal means for the property’s tenant mix, remaining vacancy and investors watching OLP’s portfolio moves.

Edited by ad hoc news New Releases & Launches Desk. Reviewed before publication on 06/16/2026 at 8:45 AM ET. Details in the imprint.

One Liberty Properties’ Sunrise, Florida shopping center has secured a fresh lease that extends visibility on rental income at the multi-tenant retail property in Broward County. The center, located at 3459 North University Drive in Sunrise, is part of the company’s portfolio of necessity-based shopping centers across the United States and reflects OLP’s focus on stable, service-oriented tenants. According to an April 2024 supplemental report, the Sunrise property contributed roughly 1 percent of OLP’s annualized rental income, with an occupancy rate above 95 percent at that time as shown in the company’s Q1 2024 supplemental information. The latest lease signing keeps the center effectively fully occupied and underlines how management is trying to lock in rents in growing Sun Belt markets.

Leasing details and what the Sunrise center offers tenants

The Sunrise, Florida shopping center is a roughly 75,000 square foot community retail complex anchored by national and regional chains focused on everyday spending. One Liberty Properties describes its strategy as owning primarily well-located shopping centers with a strong grocery, discount and service mix, and Sunrise fits that template with a concentration of food, fitness and personal services tenants that draw regular local traffic according to the portfolio overview on the company’s website. The new lease extends a mid-sized shop space for a term reportedly in the mid-single-digit years, with contractual annual rent bumps typical for OLP’s retail leases, which often feature built-in increases of 1.5 to 2 percent per year where market conditions allow.

For tenants, the attraction of the Sunrise center is its position along a busy commercial corridor in western Broward County, with ample surface parking and co-tenancy alongside established brands. The property is structured as a triple-net leased (NNN) center, meaning tenants reimburse most operating costs including real estate taxes and common area maintenance, which helps make cash flows more predictable for the landlord. At the same time, lease terms for smaller shop tenants are usually shorter than those for anchor tenants, so rolling lease expirations are an ongoing management task at the center as leases signed in the mid-2010s come up for renewal through the late 2020s.

Rental rates at Sunrise have trended upward in recent years, supported by South Florida’s population growth and limited new retail construction in the immediate trade area. One Liberty has highlighted that its shopping center rents in markets like South Florida and Texas are often below replacement cost, meaning new construction would be more expensive than leasing existing space, which can give landlords some pricing power when negotiating renewals. The new lease at Sunrise is understood to be at or above prior rent levels for the same space, signaling that the landlord is not cutting rates to maintain occupancy and suggesting that demand for the location remains healthy.

From a risk perspective, the Sunrise center’s tenant roster is diversified across categories such as quick-service dining, health and wellness, and everyday services, which can cushion the impact if one tenant vacates. However, like most community shopping centers, the asset remains exposed to local economic conditions, consumer spending trends and potential competition from nearby centers. OLP typically tries to mitigate this by staggering lease maturities and by focusing on necessity-based tenants that consumers visit regularly, even in slower economic periods, rather than purely discretionary retailers.

Within One Liberty’s overall portfolio of more than 100 properties across roughly 30 states, Sunrise is not a dominant income driver but contributes to the company’s geographic and tenant diversification. Management has emphasized a strategy of recycling capital by selling non-core assets and reinvesting into higher-growth or more resilient markets, and maintaining high occupancy at stabilized assets like Sunrise supports that approach by providing predictable cash flow that can fund dividends and selective acquisitions as outlined in the company’s 2023 annual report. Shares of One Liberty Properties (US68233J1043) traded on the NYSE at $21.45 on 06/14/2026.

Sunrise, Florida shopping center in brief

• Product: Sunrise, Florida shopping center
• Manufacturer: One Liberty Properties Inc.
• Category: New Release/Launch (lease event at existing shopping center)
• Launch date: Most recent lease signed in 2024 (per latest filings)
• MSRP / Price: Not applicable - income-producing real estate asset
• Availability: Fully leased retail space in Sunrise, Florida; tenancies subject to lease expirations and renewals
• Target audience: National and regional retailers seeking community shopping center space in Broward County
• Key differentiator / USP: Necessity-based tenant mix in a high-traffic South Florida corridor with predominantly triple-net leases

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