PEBB Enterprises, Falcone Group Brings Margaritaville Resort Brand to Beachwalk
Joint venture plans 130-key hotel along Crystal Lagoon within transformative Jacksonville-area master-planned community
JACKSONVILLE, FL – Aug. 23, 2022 – Beachwalk Retail Center LLC, a partnership between PEBB Enterprises and Falcone Group, is bringing the iconic Margaritaville brand to its highly anticipated Beachwalk project near Jacksonville. The venture plans to develop a 130-key COMPASS by Margaritaville select-service hotel fronting Beachwalk’s signature 14-acre Crystal Lagoon.
Construction of the Margaritaville hotel is expected to begin in the first quarter of 2023, with an estimated completion by Q2 2024. The hotel will serve as a strong complement for Beachwalk’s luxury residential, commercial and educational components. Beachwalk’s 348-unit multifamily luxury apartment complex is scheduled to open by the end of 2022.
“We could not have picked a better brand – and joint venture partner – for PEBB’s first ground-up hotel development,” PEBB President and CEO Ian Weiner said. “Our venture is confident that Margaritaville will become the preferred hotel option for visitors to St. Johns County and Jacksonville.”
The COMPASS by Margaritaville at Beachwalk is Falcone’s second Margaritaville-branded hotel development. Its 186-key Margaritaville Orlando Resort Hotel has consistently produced impressive occupancy and visitor satisfaction, earning Tripadvisor’s 2021 Traveler’s Choice Award and the AAA Four Diamond Award – among other accolades. Falcone is expanding the Orlando resort with 75 additional rooms to accommodate guest demand.
“Beachwalk is the ideal project to grow our relationship with the Margaritaville brand,” Falcone Group Chairman and CEO Art Falcone said. “The hotel rounds out what will be a dynamic, self-contained destination for area residents, professionals and visitors to enjoy year-round.”
The overall development includes 170,000 square feet of new retail and restaurants. PEBB and Falcone recently finalized leases with Bagels R Us, Island Fin Poke and The Covery to join a robust roster of tenants at the 47-acre northern portion of the project surrounding the 14-acre Crystal Lagoon.
Other 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 Beachwalk site was originally acquired by PEBB and Falcone Group in March 2021.
“Margaritaville will further enhance our entire mixed-use project, particularly the retailers and food-and-beverage operators around the Crystal Lagoon,” PEBB Chief Investment Officer Eric Hochman said. “We already have a tremendous amount of interest in the remaining lagoon pads and outparcels, and this news will undoubtedly take that interest to the next level.”
PEBB also developed the Shoppes at Beachwalk retail center across the street from Beachwalk. The company sold the center to Publix Super Markets in February 2022. Publix anchors the 48,400-square-foot center with a grocery and Publix Liquor location.
Beachwalk outparcels fronting State Road 210 range from one to five acres. Prominent pylon signage along the highway is also available.
For leasing inquiries, contact PEBB’s Chris Stewart or Jenny Schuemann at (561) 613-4020.
About PEBB Enterprises: Based in Boca Raton, FL, PEBB Enterprises is an entrepreneurial, full-service private equity real estate investment company. PEBB has operated as a family-owned business for more than four decades and takes pride in the company’s team of forward-thinking associates who continue to push and expand PEBB’s growth daily. PEBB has an unparalleled track record of acquiring and developing high-quality neighborhood, regional and power shopping centers, as well as suburban office buildings. The company’s vast portfolio includes properties in Florida, Texas, Nevada, New York and numerous Midwest and Southeast states. For more information, visit https://pebbenterprises.com/.
About Falcone Group: Based in Boca Raton, FL and led by veteran developer Art Falcone, the Falcone Group has reshaped skylines and redefined the way Americans live, work and play for more than 40 years. Their expertise in hospitality and real estate includes large-scale mixed-use developments, residential communities, and entertainment venues from Miami to San Francisco. For more information, visit falconegroup.info