JENSEN BEACH, FL—Kimco is on a buying andselling hot streak in the Southeast. The latest property to tradeis Marketplace Square in Jensen Beach, FL in Martin County.

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Kimco sold the 173,292-square-foot retail center to LeonCapital Group for $17.3 million on a free and clear basis.CBRE's Dennis Carson andCasey Rosen represented Kimco.

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“The sale was consistent with Kimco's strategy to focus onowning properties in major markets,” says Carson, senior vicepresident with CBRE's National Retail Investment Group. “The buyerwas attracted to Marketplace Square's location directly opposite aquality mall and the property's potential to generate income growththrough the eventual lease-up of available space.”

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Located at 3255 Northwest Federal Highway in Jensen Beach,directly opposite the Treasure Coast Square Mall. MarketplaceSquare was completed in 1989.

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The Hobby Lobby-anchored retail center is 73%leased to 20 tenants. The retail asset alsoincludes single-tenant outparcels leased to Bank of America, KFC,and Sonic.

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Kimco has been actively trading in the Southeast. The firmrecently sold Century Plaza, which is located at one ofOrlando's busiest intersections—Curry Ford Road and SemoranBoulevard—and most densely populated trade areas. The135,000-square foot neighborhood center features Aldi, Ross Dressfor Less, Big Lots, and recently added dd's Discounts. Built in1973, the retail center is 100% leased.

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Kimco also recently sold two Winn Dixie retail centers. Thecompany sold Peppertree Plaza, a 264,037-square-footretail center in Fort Lauderdale in July, as wellas Cross County Plaza, a 357,537-square-foot, grocery-anchoredretail center in West Palm Beach, FL.

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