Panama City, Fla. — Marcus & Millichap has arranged the $8.2 million sale of Shops at Bay City Point, a 21,540-square-foot retail center located in Panama City. Built in 2023, the center is part of the larger 24-acre Bay City Point retail development. Tenants at the property — which was fully leased at the time of sale — include Xfinity, The Vitamin Shoppe, Smile Doctors Orthodontists and Chicken Salad Chick.
Shops at Bay City Point is situated across from the former Panama City Mall, a 600,000-square-foot site currently undergoing a mixed-use redevelopment.
Zach Taylor, Robby Pfeiffer and Eric Abbott of Marcus & Millichap’s Atlanta office represented the seller, a Rome, Georgia-based developer. Brian Munn, also based in the Atlanta office, procured the buyer, a Georgia-based private investor. Ryan Nee is Marcus & Millichap’s broker of record in Florida.