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855 County Road 210 St John...

PEBB Enterprises & Falcone Group Secure Leases From Starbucks, Fancy Sushi & Playa Bowls For Beachwalk Project
LEASEDRetail

PEBB Enterprises & Falcone Group Secure Leases From Starbucks, Fancy Sushi & Playa Bowls For Beachwalk Project

855 County Road 210 St Johns, Florida 32259, USA

Building Size

5,200 SF

Asset Type

Retail

Closing

Aug 24, 2023

AI

The Beachwalk Retail Center LLC, a partnership between PEBB Enterprises and Falcone Group, has secured leases for its Jacksonville-based Beachwalk project, which is now over 55% leased. The development, located at 855 County Road 210 in St. Johns, features 170,000 square feet of retail and restaurants surrounding the Crystal Lagoon. The tenants include Starbucks, Fancy Sushi, and Playa Bowls. The retail center has attracted top-tier tenants and offers a diverse range of options for visitors.

Summary of transaction details

  • Property Type: Retail
  • Lease Date: 08/24/2023
  • Address: 855 County Road 210, St. Johns
  • Square Footage: 5,200 SF
  • Landlord: PEBB Enterprises (Jenny Schuemann & Eric Hochman), Falcone Group (Art Falcone)
  • Tenants: Starbucks, Fancy Sushi, Playa Bowls

Partners Jenny Schuemann and Eric Hochman represent PEBB Enterprises as the landlords for the Beachwalk Retail Center. Art Falcone represents Falcone Group. With the leases secured from Starbucks, Fancy Sushi, and Playa Bowls, the Beachwalk project has significantly increased its occupancy and is now attracting even more interest from potential tenants.

Players

Starbucks
StarbucksTenant

Saint Johns Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93