JUPITER, FL-Boca Raton-based Woolbright Development Inc. has acquired the 91,400-sf Abacoa Town Center at the intersection of Main Street and Town Center Drive. The acquisition cost was not released but sources put the price tag at $11 million.

The Mediterranean-style, open-air shopping center has about 32,000 sf available for lease. Current tenants include Starbucks, Style So Chic, Angry Moon Cigars, Rooney’s Public House, Masa’s Sagami, JJ Muggs, Jumby Bay Island Grill and Christine Lee’s.

The shopping center is located in Abacoa, a 2,050-acre mixed-use development that extends from Donald Ross Road North to Indian Creek Parkway and includes residential, office, retail, university campuses, the Scripps Research Institute, the spring training facility for the Florida Marlins and St. Louis Cardinals and an 18-hole golf course.

“We are bullish on the Florida retail market particularly here in Abacoa where the business climate is strong and residential growth is steady,” says Woolbright Development president Duane Stiller.

Among reasons for the acquisition is that the population of Jupiter is expected to grow 10% over the next five years. “We follow a rigid set of guidelines that Abacoa Town Center fits, particularly when you look at the expected increase of retail traffic fueled by new businesses and the arrival of the Scripps Research Institute for biomedical research,” Stiller says.

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