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RS Real Estate Partners has finalized the sale of Beachwalk Shoppes, a newly constructed retail strip center in St. Johns, Florida, for $5.62 million. The five-tenant property, located at 145 Beachwalk Shore Drive, is fully occupied by Bagels R Us, Goin' Postal, Fancy Sushi, Deca Dental, and Playa Bowls on triple net leases.

    SRS Capital Markets Senior Managing Principal Patrick Nutt and Executive Vice President & Principal William Wamble represented the seller, a national development firm. The buyer was an Atlanta-based private investor in a 1031 exchange, with a closing cap rate of 6.4%. Beachwalk Shoppes is situated on 1.42 acres and spans 8,200 square feet.

    "Beachwalk Shoppes benefits from its location within a dense retail corridor and as part of a larger development featuring national brands," said Wamble. "St. Johns County's strong growth prospects, with an anticipated 9.51% increase from 2023 to 2028, make it an attractive market for retail investment."

    This year, SRS Capital Markets has completed over $1.2 billion in deal volume through more than 350 transactions nationwide. The company currently lists over 845 properties on the market, valued at more than $3.7 billion.

    Founded in 1986, SRS Real Estate Partners is a leading commercial real estate solutions provider with a strong retail foundation. Headquartered in Dallas and operating from 29 US offices, SRS has established itself as one of the industry's most respected leaders.