Leon Capital Sells FL Retail Center for $19M

Cushman & Wakefield represented the seller in its disposition of Marketplace Square, a 169,223-square-foot property anchored by Hobby Lobby.
Marketplace Square

After selling the 75,387-square-foot Shops at MacArthur Hills in Dallas last month, Leon Capital Group has also sold Marketplace Square, a shopping center in Jensen Beach, Fla., to Exchange Solutions Inc., for $19 million.

Located at 3181 NW Federal Highway, the 169,223-square-foot property is anchored by Hobby Lobby and home to other tenants including Dollar Tree, Buddy’s Home Furnishing, Rush Trampoline Park, Sonic, Buffalo Wild Wings, Once Upon a Child and KFC. The retail asset is currently 89 percent leased, with 18,910 square feet still available.

Cushman & Wakefield’s Retail Investment Advisory Team of Managing Directors Patrick Berman and Jason Donald, as well as Associate Todd Tolbert, represented the seller.

“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, in a prepared statement. “The opportunity to fully lease the property also presents significant upside potential.”

Image courtesy of Cushman & Wakefield