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

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

“The sale was consistent with Kimco's strategy to focus on owning properties in major markets,” says Carson, senior vice president with CBRE's National Retail Investment Group. “The buyer was attracted to Marketplace Square's location directly opposite a quality mall and the property's potential to generate income growth through the eventual lease-up of available space.”

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

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

Kimco has been actively trading in the Southeast. The firm recently sold Century Plaza, which is located at one of Orlando's busiest intersections—Curry Ford Road and Semoran Boulevard—and most densely populated trade areas. The 135,000-square foot neighborhood center features Aldi, Ross Dress for Less, Big Lots, and recently added dd's Discounts. Built in 1973, the retail center is 100% leased.

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