Stan Johnson Company Brokers 1031 Exchange of Fort Walton Beach, Florida Shopping Center for $8.4 Million

BealCommons

Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of Beal Commons, a multi-tenant shopping center located at 575 Beal Parkway Northwest in Fort Walton Beach, Florida. Beal Commons totals 15,982 square feet and is leased to strong national retailers. Stan Johnson Company’s Chase Dominguez represented the seller, a Fort Walton Beach, Florida-based developer. The property was acquired for $8.4 million by an individual investor out of Arizona. Both parties were involved in 1031 exchanges

“Situated within a growing Florida market, strong credit and a diversified tenant mix made this center a highly appealing opportunity,” said Dominguez, Associate in Stan Johnson Company’s Atlanta, Georgia office. “Timely tenant renewals coupled with the fierce appetite of investors for multi-tenant retail this year has provided us with an ideal scenario to get this deal sold.” 

The shopping center was built in 2006 and renovated in 2019. Tenants include Starbucks, FedEx Office, Verizon and Ruby Tuesday. Situated on 3.04 acres, Beal Commons has the best commercial corner in Fort Walton with great visibility and access at the intersection of Beal Parkway and Mary Esther Cut Off. The site benefits from a dense residential population, as well as significant tourist traffic. Nearby national tenants including Publix, Walmart, Chick-fil-A, Lowe’s, T.J. Maxx and more. 

View Profile
About Stan Johnson Company:

Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses on investment sales transactions involving retail, office, industrial, healthcare, and specialty properties. The firm and its affiliates provide acquisition, disposition, sale leaseback, capital markets, and advisory services for institutions, developers, investment funds, corporate occupiers, and private investors across the United States. With a historic focus in the single-tenant net lease sector, Stan Johnson Company is now in its fourth decade of operation and has expanded its service platform in order to better serve its valued clients. The firm has completed more than $45 billion in transactions nationwide and continues to be regarded as the Net Lease Authority® as it focuses on continued growth and expansion into other industry sectors and services.