JLL Arranges Sale of 149K-SF Retail Center in Palm Bay
JLL has brokered the sale of Marketplace at Palm Bay, a 149,752-square-foot retail center anchored by Winn-Dixie and Bealls Outlet in the eastern coastal Florida community of Palm Bay. The sales price was not disclosed.
Marketplace at Palm Bay is situated on nearly 17 acres at 5270 Babcock St. NE and is visible to more than 47,000 vehicles per day. Palm Bay is in the Melbourne MSA between Jacksonville and Miami and 60 miles southeast of Orlando. In addition to Winn-Dixie and Bealls Outlet, the 92% leased retail center is home to tenants Workout Anytime, Brevard Health Alliance, CSL Plasma and Healthworx.
Brad Peterson, Whitaker Leonhardt and Tommy Isola of JLL represented the seller, DLC Management Corp., in the transaction. A private Florida-based investment group acquired the asset. The property was listed on CRE transaction platform Ten-X.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.