Orion Real Estate Group Achieves $52.75 Million Sale of The Shoppes at Jupiter
Orion Real Estate Group's Strategic Sale of The Shoppes at Jupiter
The real estate market in South Florida witnesses significant movements as Orion Real Estate Group, based in Miami, finalizes the sale of The Shoppes at Jupiter for an impressive $52.75 million. This 197,000-square-foot shopping center, strategically located at the busy intersection of Indiantown Road and U.S. Highway 1, was sold in an off-market transaction to Ram Realty Advisors from Palm Beach Gardens.
This sale not only reflects the growing demand in the regional retail market but also highlights Orion's dedicated approach to enhancing property value. Acquired in 2015 for $27.8 million, the shopping center underwent substantial renovations and enhancements over the years, positioning it as a key player in Jupiter's retail landscape. The renovation efforts completed in 2014 included modern upgrades and improving tenant retention, effectively increasing the overall asset value significantly.
The Shoppes at Jupiter is home to a variety of tenants, including major names like Cinépolis Luxury Cinemas, Palm Beach Sports Club Gym, Staples, and Bealls. A significant addition to its tenant roster is the anticipated opening of Whole Foods Market, which is likely to further augment the shopping center's long-term value and attractiveness to shoppers.
Chris Sanz, the president of Orion Real Estate Group, shared insights into the transaction, stating, “This deal showcases our ability to acquire, improve, and monetize retail assets in high-demand markets. Over the past decade, we’ve been able to strategically enhance The Shoppes at Jupiter, and with Whole Foods as a new anchor, it solidifies this location's strength.”
The Shoppes at Jupiter is situated in a thriving area with over 80,000 residents within a five-mile radius, boasting household incomes that exceed the national average. This positioning, combined with a mix of national brands and various dining and service options, makes it an essential part of the Jupiter retail ecosystem.
Noah Jones and Dan Lynch from Atlantic Retail played critical roles in facilitating the deal, demonstrating their expertise in navigating the commercial real estate market and identifying quality investment opportunities for their clients.
About Orion Real Estate Group
Founded in 1978, Orion Real Estate Group is recognized globally for delivering comprehensive commercial real estate services and investment solutions. With over $8.5 billion transacted and a portfolio surpassing $1.5 billion, they stand at the forefront of commercial real estate, demonstrating a solid commitment to growth and value enhancement. Headquartered at 200 S. Biscayne Blvd, 7th Floor, Miami, FL, they continue to lead remarkable projects helping to shape the commercial landscape.
The real estate market in South Florida witnesses significant movements as Orion Real Estate Group, based in Miami, finalizes the sale of The Shoppes at Jupiter for an impressive $52.75 million. This 197,000-square-foot shopping center, strategically located at the busy intersection of Indiantown Road and U.S. Highway 1, was sold in an off-market transaction to Ram Realty Advisors from Palm Beach Gardens.
This sale not only reflects the growing demand in the regional retail market but also highlights Orion's dedicated approach to enhancing property value. Acquired in 2015 for $27.8 million, the shopping center underwent substantial renovations and enhancements over the years, positioning it as a key player in Jupiter's retail landscape. The renovation efforts completed in 2014 included modern upgrades and improving tenant retention, effectively increasing the overall asset value significantly.
The Shoppes at Jupiter is home to a variety of tenants, including major names like Cinépolis Luxury Cinemas, Palm Beach Sports Club Gym, Staples, and Bealls. A significant addition to its tenant roster is the anticipated opening of Whole Foods Market, which is likely to further augment the shopping center's long-term value and attractiveness to shoppers.
Chris Sanz, the president of Orion Real Estate Group, shared insights into the transaction, stating, “This deal showcases our ability to acquire, improve, and monetize retail assets in high-demand markets. Over the past decade, we’ve been able to strategically enhance The Shoppes at Jupiter, and with Whole Foods as a new anchor, it solidifies this location's strength.”
The Shoppes at Jupiter is situated in a thriving area with over 80,000 residents within a five-mile radius, boasting household incomes that exceed the national average. This positioning, combined with a mix of national brands and various dining and service options, makes it an essential part of the Jupiter retail ecosystem.
Noah Jones and Dan Lynch from Atlantic Retail played critical roles in facilitating the deal, demonstrating their expertise in navigating the commercial real estate market and identifying quality investment opportunities for their clients.
About Orion Real Estate Group
Founded in 1978, Orion Real Estate Group is recognized globally for delivering comprehensive commercial real estate services and investment solutions. With over $8.5 billion transacted and a portfolio surpassing $1.5 billion, they stand at the forefront of commercial real estate, demonstrating a solid commitment to growth and value enhancement. Headquartered at 200 S. Biscayne Blvd, 7th Floor, Miami, FL, they continue to lead remarkable projects helping to shape the commercial landscape.
Topics Consumer Products & Retail）
【About Using Articles】
You can freely use the title and article content by linking to the page where the article is posted.
※ Images cannot be used.
【About Links】
Links are free to use.