2550 Sherman Avenue, Panama City, FL for sale

Investment Overview

Marketing description: NAI TALCOR and JH Berry are pleased to exclusively represent this Net Lease Industrial Investment asset in the Northwest Florida market of Panama City, FL. The asset is anchored by a long-term sale-leaseback structure paired with a value-add component providing a veritable riskless return expansion opportunity in one of the fastest growing markets in the country. The Seller, Buffalo Rock Company, has been operating in the Panama City market since 1986 and just completed upgrading and modernizing this facility in 2026. Complementing BR's net lease is an adjacent move-in ready 10ksf warehouse facility that was previously utilized as a commercial kitchen supporting BR's coin-operated vending services. Now vacant, the space offers a hard-to-find capability carrying significant in-place improvements allowing a strong rental rate opportunity with very limited in-market competition. About the Tenant: Founded in Birmingham, Alabama in 1901, Buffalo Rock Company is one of the nation's largest privately held, family-owned beverage bottlers and distributors and the largest privately held, family-owned Pepsi and Keurig Dr Pepper bottler in the United States. The company operates an extensive production, warehousing, transportation and distribution network serving markets throughout Alabama, the Florida Panhandle and western Georgia. Buffalo Rock's operations encompass more than 1,300 beverage SKUs, approximately 2,400 fleet assets, more than 15,000 retail customers and over seven million consumers, with the company manufacturing and selling nearly one billion units annually. With more than 125 years of operating history, a diversified portfolio of nationally recognized beverage brands and significant investment in its distribution infrastructure, Buffalo Rock represents an established regional industrial tenant with substantial long-term logistics and facility requirements.

Investment Highlights

• Investment Grade Tenant, long-term established presence
• 10yr Long-term Lease, commencing upon Closing of Purchase
• NNN Lease, minimal Landlord responsibilities (roof, foundation)
• New roof installed in 2019
• Recently completed modernization and upgrade of BR facility
• Complete office renovation
• Installation of new dock leveler platform
• Reconfiguration of Warehouse area with Air Circulation upgrades
• Upgrading of truck cushions and dock fixtures
• Add'l 10,000sf Warehouse facility for Cap Rate expansion opportunity
• Located in Panama City, 2nd fastest growing MSA in the United States ('24)
• Centrally located and adjacent to Hwy 231, Panama City's primary arterial providing quick access throughout Bay County, surrounding markets and Interstate 10