SRS Real Estate Partners has completed the $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. The fully occupied, five-tenant asset is part of the larger Beachwalk project which is under development.

SRS Capital Markets Senior Managing Principal Patrick Nutt and Executive Vice President & Principal William Wamble represented the seller, a national development and investment firm. The buyer was an Atlanta-based private investor who was in a 1031 exchange. The closing cap rate was 6.4%.

Situated on 1.42 acres, the 8,200-square-foot property was completed in 2024 and includes Bagels R Us, Goin’ Postal, Fancy Sushi, Deca Dental, and Playa Bowls. All of the tenants are on triple net leases.

“Beachwalk Shoppes is located in a dense retail corridor and is part of a larger retail development that is under construction which features a number of national brands including Panda Express, Chipotle, and Panera Bread, among others,” said Wamble. “St. Johns County is the tenth fastest growing county in the nation and is anticipated to grow 9.51% from 2023 to 2028. All this bodes well for retail investment here.”

This year, SRS Capital Markets has completed more than $1.2 billion in deal volume comprised of more than 350 transactions across the nation. SRS currently has in excess of 845 properties actively on the market with a market value surpassing $3.7 billion.

About SRS Real Estate Partners

Founded in 1986, SRS Real Estate Partners is building upon its retail foundation to provide extensive commercial real estate solutions to tenants, owners, and investors. Headquartered in Dallas, with 29 offices in the U.S., SRS has grown into one of the industry’s most influential and respected leaders. Our commitment to excellence is strengthened by our Guarantee of Value and our success is measured in the achievement of our clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.

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