FAQ on SRS Real Estate Partners' $5.62 Million Sale of Beachwalk Shoppes in Jacksonville, FL

What is the Beachwalk Shoppes?

Beachwalk Shoppes is a newly constructed multi-tenant retail strip center located at 145 Beachwalk Shore Drive in St. Johns, FL, a submarket of Jacksonville, which was sold for $5.62 million.

Who represented the seller in the transaction?

SRS Capital Markets Senior Managing Principal Patrick Nutt and Executive Vice President & Principal William Wamble represented the seller, a national development and investment firm.

Who purchased the Beachwalk Shoppes?

The buyer was an Atlanta-based private investor who was in a 1031 exchange.

What is the significance of the sale?

The sale underscores the growth and investment potential in St. Johns County, which is the tenth fastest growing county in the nation and is anticipated to grow 9.51% from 2023 to 2028.

What tenants are located in the Beachwalk Shoppes?

The property includes Bagels R Us, Goin’ Postal, Fancy Sushi, Deca Dental, and Playa Bowls, all on triple net leases.

What is the closing cap rate for the sale?

The closing cap rate was 6.4%.

How does this sale reflect on SRS Real Estate Partners’ performance?

This year, SRS Capital Markets has completed more than $1.2 billion in deal volume comprised of more than 350 transactions across the nation, showcasing their significant market presence.

Where can I find more information about SRS Real Estate Partners?

For more information, please visit srsre.com.