Jensen Beach Property’s Diverse Tenants Include Hobby Lobby, Dollar Tree, Buffalo Wild Wings and an Indoor Trampoline Park
JENSEN BEACH, FL, May 22, 2018 – Cushman & Wakefield has negotiated the sale of Marketplace Square, 169,223-square-foot shopping center, for $19 million. The Hobby Lobby-anchored retail plaza is situated in Jensen Beach on Florida’s east coast, about an hour north of West Palm Beach.
The Retail Investment Advisory Team of Managing Director Patrick Berman, Managing Director Jason Donald and Associate Todd Tolbert represented the seller, Leon Capital Group, in the transaction. Leon Capital Group acquires, finances and develops assets across a diversified portfolio, including multi-family, retail, self-storage and residential properties. The buyer is Exchange Solutions, Inc.
In addition to Hobby Lobby, tenants at Marketplace Square include Dollar Tree, Buffalo Wild Wings, Buddy’s Home Furnishings, Once Upon a Child and Rush Trampoline Park, as well as two outparcels occupied by KFC and Sonic. The property was 89 percent leased at time of sale, with 18,910 square feet available.
Marketplace Square has a prominent location at 3181 NW Federal Highway (U.S. 1), at the intersection with Jensen Beach Boulevard, which is visible to 72,000 vehicles a day. It is situated near several major retailers, including Target and Publix, as well the Treasure Coast Square Mall, with 1+ million square feet of retail.
“With experience-based retail tenants like Hobby Lobby and an indoor trampoline park, as well as several popular restaurant chains, this property offers a diverse, internet-resistant tenancy at the apex of Jensen Beach’s retail market,” said Berman. “The opportunity to fully lease the property also presents significant upside potential.”
About Leon Capital Group
Leon Capital Group is an investment company with a focus on real estate. The company acquires, finances and develops assets across a diversified portfolio that yields attractive returns for its investors. With a focus on multi-family, retail, self-storage and residential properties, Leon Capital Group has successfully overseen more than 300 investments, representing a total capitalization of more than $3 billion. Based in Dallas, the company has a vision of redefining real estate investing and transforming communities throughout the United States and around the globe. To learn more, visit LeonCapitalGroup.com.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
Communications Specialist, Florida