JBL Asset Management bought The Grove at Winter Park; a 110,500-square-foot shopping center that sold for $24.7 million. TriOut Advisory Group was the seller. The South Florida Business Journal reported that Ocean Bank loaned $17.3 million to the buyer.

The neighborhood center is anchored by a 24 Hour Fitness and includes several restaurants such as Twister Root Burger Co., KitchenAF and Asian House. The center’s tenants also include Hertz and Hometown Furniture & Decor Market. The center was 92% occupied at the time of sale.

A JBL spokesman noted the center has been recently renovated and in good condition. After any immediate maintenance needs are addressed, he said the new ownership will evaluate any ways to add value, expand the center or develop it further.