Restaurant & QSR Expansion Report

Marketing an Emerald Coast Plaza……….

Early in February, real estate firm, Marcus & Millichap reported that it had been retained to market for sale the Choctaw Plaza in Fort Walton Beach in Northwest Florida’s Emerald Coast area on behalf of owner Choctaw Plaza Ltd.  Choctaw Plaza is a 31-year old open center on more than seven acres at 111 Racetrack Rd. NW with more than 50,000 vehicles passing the site daily.  The 93,300 square foot plaza is about 95 percent leased with tenants including Big Lots, Dollar General, Rent-A-Center, Curves, Little Caesars, etc.  Northwest Florida State College is nearby and the 257-bed Fort Walton Beach Medical Center is within walking distance. The project was renovated in 2008 and new landscaping, new parking lot and lighting was done a year ago. Nearby national tenants include T.J. Maxx, Home Depot, Winn-Dixie, two Publix Super Markets, Sam’s Club, Super WalMart, etc. The $10.9-million listing price represents about $117 per square foot. Marc Strauss at the Marcus & Millichap Fort Lauderdale office (954/245-3400) and Al Palacios at the company’s Miami office (786/522-7000) are representing the seller…….

 

 

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