The 91,498-square-foot property, fully occupied by Bealls, is located in Port Charlotte Town Center
PORT CHARLOTTE, FL (May 5, 2022) – Franklin Street has arranged the $8.79 million sale of 91,498-square-foot, single-tenant retail property in Port Charlotte, an unincorporated community on Florida’s rapidly growing southwest coast. The property is fully leased to one of the country’s top 10 performing Bealls stores, which has a long-term lease term remaining.
Franklin Street’s Atlanta Retail Investment Sales Team of Bryan Belk, John Tennant, Chris Adams and Sam Roe arranged the transaction on behalf of the seller, an affiliate of RCG Ventures, a privately funded real estate investment group out of Atlanta. The buyer was Ford & Sons Real Estate Investors out of Texas.
“This property offered an opportunity to acquire a successful location in a strong and growing market that is projected to see 7.8% population growth by 2023,” said Belk. “Further, Bealls’ decision to execute an early lease extension demonstrates its commitment to this property and overall bullishness on the Southwest Florida market, making this a stable investment play.”
At 1441 Tamiami Trail, the retail property is located within Port Charlotte Town Center, and attracts 2.2 million visits annually. Other national retailers surrounding the property include Publix, Sam’s Club, Target, Lowe’s, Marshalls, Bed Bath & Beyond, Dillard’s, and the newly rebuilt Port Charlotte Marketplace with Burlington, Total Wine, Ross & Home Goods.
About Franklin Street:
Founded in 2006 during one of the toughest real estate climates, Franklin Street focused on delivering value-added solutions to meet the evolving needs of clients. Through a collaborative philosophy of leveraging the resources, expertise and experience of each of its lines of business, Franklin Street has grown to include seven business divisions – Investment Sales, Tenant and Landlord Representation, Capital Advisory, Insurance, Property Management and Project Management. With $7 billion in transaction value across all major product types, Franklin Street offers unmatched value and optimal solutions for clients nationwide. Headquartered in Tampa, Fla., the company has offices in Fort Lauderdale, Jacksonville, Miami, Orlando, Atlanta and Chicago. Learn more about Franklin Street at FranklinSt.com.