Belpointe PREP, LLC Announces Lease Agreement with Sprouts Farmers Market
Greenwich, CT, May 24, 2023 (GLOBE NEWSWIRE) -- Belpointe PREP, LLC (NYSE American: OZ) (“Belpointe OZ” or the “Company”), a publicly traded qualified opportunity fund, announced the signing of a definitive lease agreement with Sprouts Farmers Market, one of the largest and fastest growing specialty retailers of fresh, natural and organic food in the United States. Sprouts will occupy approximately 23,000 sq. ft. at Belpointe OZ’s 1991 Main Street development in Sarasota, FL—a two building development dubbed “Aster & Links”—marking a major milestone for the development.
Aster & Links is currently expected to consist of 424 apartment homes that range from one-bedroom, two-bedroom, three-bedroom apartments to four-bedroom townhome-style penthouses spread throughout two high-rise buildings with 7 stories in the front and 10 stories in the rear, and over 900 parking spaces consisting of garage and surface parking. The development will offer full amenities such as a clubroom, fitness room, center courtyard with heated saltwater pool, and roof top amenities including a community room and a private dining area for private events as well as outdoor grills and seating.
Aster & Links is designed to cater to the modern lifestyle, and the location is ideal, with easy access to a variety of shops, restaurants, and entertainment. The community will offer a comfortable living experience with the latest amenities and modern designs. The apartments are being built to provide a luxurious living experience with elegant and sophisticated finishes.
Aster & Links is intended to be a perfect blend of luxury, comfort, and convenience. The development will offer residents a unique opportunity to live in a vibrant community with exceptional amenities and an unparalleled location; an ideal choice for individuals looking for a modern lifestyle and a comfortable living experience.
Aster & Links are currently anticipated to begin leasing in the first half of 2024.
“We are pleased to announce the addition of Sprouts to our Aster & Links community in downtown Sarasota, and we look forward to announcing several other exciting and unique concepts to Main Street for residents and guests to enjoy,” said Eric Fenton, Vice President of Belpointe. “As we begin to welcome our first residents to the neighborhood next year, Sprouts will serve as a great addition to this vibrant new residential community.”
Sprouts is known for its focus on fresh, natural, and organic products, and its commitment to offering customers a wide variety of healthy alternatives and good-for-you options. The store is expected to bring a significant boost to the local economy, creating jobs and supporting local farmers and suppliers.
Belpointe OZ is currently developing several other properties throughout the north and southeastern United States and is actively seeking new investment opportunities. This announcement is one of many exciting developments to come for Belpointe OZ, and the Company looks forward to continuing to drive growth and value for its investors in the years ahead.
About Belpointe OZ
Belpointe OZ is a publicly traded qualified opportunity fund, listed on NYSE American under the symbol “OZ.” To date, Belpointe OZ has over 2,500 units in its development pipeline throughout four cities, representing an approximate total project cost of over
Belpointe OZ has filed two registration statements (including a combined prospectus) with the U.S. Securities and Exchange Commission (“SEC”) for the offer and sale of up to an aggregate of
About Sprouts Farmers Market
True to its farm-stand heritage, Sprouts offers a unique grocery experience featuring an open layout with fresh produce at the heart of the store. Sprouts inspires wellness naturally with a carefully curated assortment of better-for-you products paired with purpose-driven people. The healthy grocer continues to bring the latest in wholesome, innovative products made with lifestyle-friendly ingredients such as organic, plant-based and gluten-free. Headquartered in Phoenix, and one of the largest and fastest growing specialty retailers of fresh, natural and organic food in the United States, Sprouts employs approximately 31,000 team members and operates approximately 380 stores in 23 states nationwide. To learn more about Sprouts, and the good it brings communities, visit about.sprouts.com.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release may be considered forward-looking, such as statements containing estimates, projections and other forward-looking information. Forward-looking statements are typically identified by words and phrases such as “anticipate,” “estimate,” “believe,” “continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict,” “seek,” “should,” “will,” “would,” “expect,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target” or the negative of such words and other comparable terminology. However, the absence of these words does not mean that a statement is not forward-looking. Any forward-looking statements expressing an expectation or belief as to future events is expressed in good faith and believed to be reasonable at the time such forward-looking statement is made. However, these statements are not guarantees of future events and involve risks, uncertainties and other factors beyond our control. Therefore, we caution you against relying on any of these forward-looking statements. Actual outcomes and results may differ materially from what is expressed in any forward-looking statement. Except as required by applicable law, including federal securities laws, we do not intend to update any of the forward-looking statements to conform them to actual results or revised expectations.
Investor Relations and Media Contact:
Cody H. Laidlaw
Belpointe PREP, LLC
255 Glenville Road
Greenwich, Connecticut 06831
IR@belpointeoz.com
203-883-1944
