PEBB Enterprises Completes $19.2 Million Sale of Shoppes at Beachwalk Near Jacksonville
Real estate company closes sale to Publix, which anchors the retail center across from master-planned Beachwalk community
JACKSONVILLE, FL – PEBB Enterprises, the South Florida-based real estate investment and development company, sold the Shoppes at Beachwalk retail center to Publix Super Markets for $19.2 million. The sale of the center in St. Johns County, part of the Jacksonville metropolitan area, closed on Feb. 22, 2022.
Publix now owns the center it anchors with a 48,400-square-foot grocery and Publix Liquor location. The 855 County Road 210 West center also features a compelling roster of inline tenants, such as Great Clips, Narducci Dental, Urgent Vet, Lavender Day Spa.
PEBB completed construction of Shoppes at Beachwalk in 2021, with Publix opening to customers that summer. The company acquired the 8.85-acre site in July 2020.
“We are proud of our development and leasing teams for their efforts in the successful construction and lease-up of the Shoppes at Beachwalk,” PEBB President and CEO Ian Weiner said. “This was our first ground-up Publix development in many years. Our focus is on the completion and continued leasing of our mixed-use project within Beachwalk.”
CBRE’s Casey Rosen and Dennis Carson brokered the Shoppes at Beachwalk transaction.
“This acquisition by Publix demonstrates their long-term commitment to Beachwalk and the strength of this retail submarket with continuing growth potential”, said Eric Hochman, Chief Investment Officer for PEBB Enterprises. “Our development leasing momentum is robust, and we are excited to activate the commercial components surrounding the Crystal Lagoon.”
PEBB and Falcone Group are currently developing a 170,000-square-foot mixed-use project on 47 acres within Beachwalk. The overall development includes retail, restaurants and a 130-key hotel to join Beachwalk’s luxury residential, commercial, industrial, and educational components. Signed tenants include Whiskey Joes, Fysh Bar & Grill, Noire Nail Bar, F45 Fitness, BurgerFi, Supercuts, Kilwins, Cold Stone Creamery, Fancy Sushi, Keller Williams, Peterbrooke Chocolatier, Merlino Chiropractic,and a Union 76 Daybreak Market.
The development site surrounds Beachwalk’s signature 14-acre Crystal Lagoon. PEBB and Falcone’s mixed-use development will include a merchandising mix of multi-tenant outparcels, single tenant net leased pads, waterfront restaurants with ample outdoor seating, retail shop space along the lagoon and a select-service hotel.
For Beachwalk leasing inquiries, contact PEBB’s Chris Stewart or Jenny Schuemann at (561) 613-4020.