A private equity fund, sponsored by Forge Capital Partners and the Sembler Co., has recently acquired Palm Plaza in Leesburg. This 133,419-square-foot shopping center is anchored by Publix and was sold for $17.8 million. The sellers were a joint venture between Crosspoint and Long Wharf Capital.
The seller was represented by Colliers’ Brad Peterson and Whitaker Leonhardt. At the time of sale, the shopping center had a 93% occupancy rate.
According to CommercialEdge data, this property was previously traded in 2022 when Crosspoint purchased it from Wallington Enterprises for $14 million.
Built in 1960 with a cosmetic renovation done in 2002, this retail center boasts an impressive tenant roster including national brands like Planet Fitness, Popeyes, Quest Diagnostics as well as regional retailers such as Rent-A-Center and Firehouse Subs among others.
