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JV Plans 130-Key COMPASS by Margaritaville Hotel at Beachwalk Development in St. Johns
Beachwalk Retail Center LLC, a partnership between Boca Raton, FL-based PEBB Enterprises and Falcone Group, is bringing the Margaritaville brand to its Beachwalk development project in the Jacksonville submarket of St. Johns, FL.
The venture plans to develop a 130-key COMPASS by Margaritaville select-service hotel fronting Beachwalk’s 14-acre Crystal Lagoon. The hotel will complement for Beachwalk’s 348-unit multifamily apartment complex that is scheduled to open by the end of 2022, along with 170,000 square feet of new retail and restaurants. PEBB and Falcone recently finalized leases with Bagels R Us, Island Fin Poke and The Covery to join an existing roster of tenants at the 47-acre northern portion of the project.
The COMPASS by Margaritaville at Beachwalk is Falcone’s second Margaritaville-branded hotel development, behind the 186-key Margaritaville Orlando Resort Hotel.
PEBB also developed the Shoppes at Beachwalk retail center across the street from Beachwalk. The company sold the center to Publix Super Markets in February 2022.
- ◦Development
