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Florida & Gulf Coast  + Gulf Coast  + Retail  | 

Marcus & Millichap Arranges Fort Walton Beach Retail Sales

Choctaw Plaza, a 93,650-square foot retail property and Compass Bank, a 3,346-square foot net-leased property in Fort Walton Beach, FL, have sold for nearly $10 million. Choctaw Plaza, located at 111 Racetrack Road NW, is anchored by Big Lots and is 89% leased. Compass Bank is located at 101 Racetrack Road NW and is an outparcel to Choctaw Plaza. The assets are situated between Pensacola and Panama City, along north Florida’s Gulf Coast.

Marcus & Millichap’s James Medefind and Cory Gross marketed the property on behalf of the unnamed private investor seller. An individual/personal trust bought Compass Bank, in a deal handled by Medefind, Evan Cannan and Gross. The buyer for Choctaw Plaza was an individual/personal trust that was procured by Medefind and Gross.

Gross says, “We sourced 7+ offers internally for the asset and were able to maximize returns for our client by breaking up the property and selling the inline retail center and bank outparcel to different buyers.”

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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