JENSEN BEACH, FL—Marketplace Square, a 173,292-square-foot Hobby Lobby-anchored retail center in Jensen Beach, FL, has a new owner. Leon Capital just closed a $15.66 million acquisition loan to buy the asset.
HFF senior managing director Travis Anderson, director Chris Drew, and senior analysts Jose Carrazana and Cecily Nazario, helped Leon secure the floating rate loan. The lender is Prime Finance.
“Leon Capital benefited greatly from the liquidity in the marketplace and achieved highly attractive acquisition financing as a result of their excellent sponsorship and Marketplace Square's strategic location within the primary retail node of Jensen Beach,” Drew tells GlobeSt.com. “Market conditions are extremely competitive and HFF continues to see significant demand from investors and lenders for quality assets in secondary markets throughout Florida.”
Marketplace Square sits on about 20 acres of land at the southeastern corner of US 1 and Jensen Beach Boulevard in the Port Saint Lucie Metropolitan Area of Jensen Beach. The property is directly opposite Treasure Coast Square Mall, the only enclosed regional mall within 30 miles. Marketplace Square has 20 tenants, including Hobby Lobby, Dollar Tree, and Bank of America.
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