JBL Asset Management has acquired The Grove at Winter Park, a 110,500-square-foot shopping center for $24.7 million. The seller was TriOut Advisory Group and the financing was provided by Ocean Bank according to the South Florida Business Journal.
The neighborhood center features a 24 Hour Fitness as its anchor tenant and also includes popular dining options such as Twister Root Burger Co., KitchenAF, and Asian House. Other tenants include Hertz and Hometown Furniture & Decor Market with an occupancy rate of 92% at the time of sale.
According to a JBL spokesperson, the recently renovated center is in excellent condition. After addressing any immediate maintenance needs, new ownership will explore opportunities for value enhancement through potential expansion or development projects on site.
This retail transaction in Winter Park demonstrates strong market activity with significant investment potential.
