SRS Real Estate Partners Completes $5.62 Million Sale of Beachwalk Shoppes in Jacksonville

SRS Real Estate Partners has announced the completion of a $5.62 million sale of Beachwalk Shoppes, a newly constructed multi-tenant retail strip center located at 145 Beachwalk Shore Drive in St. Johns, FL, a submarket of Jacksonville. This transaction underscores the vibrant retail investment opportunities in the region, particularly in St. Johns County, which is recognized as the tenth fastest growing county in the nation.

The property, situated on 1.42 acres and comprising 8,200 square feet, was fully occupied at the time of sale, housing tenants such as Bagels R Us, Goin’ Postal, Fancy Sushi, Deca Dental, and Playa Bowls, all under triple net leases. The sale was facilitated by SRS Capital Markets Senior Managing Principal Patrick Nutt and Executive Vice President & Principal William Wamble, representing the seller, a national development and investment firm. The buyer, an Atlanta-based private investor, utilized a 1031 exchange for the purchase, with the closing cap rate set at 6.4%.

William Wamble highlighted the strategic location of Beachwalk Shoppes, noting its position in a dense retail corridor and its inclusion in a larger retail development project featuring national brands like Panda Express, Chipotle, and Panera Bread. The anticipated 9.51% growth of St. Johns County from 2023 to 2028 further enhances the appeal of retail investments in the area.

This sale is part of SRS Capital Markets' impressive track record this year, having completed over $1.2 billion in deal volume across more than 350 transactions nationwide. With over 845 properties currently on the market, valued at more than $3.7 billion, SRS Real Estate Partners continues to solidify its position as a leader in the commercial real estate sector. For more information on SRS Real Estate Partners, visit https://srsre.com.