JBL Asset Management Acquires Towne Square Retail Center In Ocoee For $18.1M

A 126,000-square-foot retail asset located at 11029 West Colonial Drive in Ocoee, Florida, was sold for $18,100,000. The property, known as Towne Square, is positioned within a valuable retail market and has an estimated price per square foot of $144. The shopping center is anchored by Gabe’s and My Salon Suite and has undergone repositioning through leasing and capital improvements over the last 10 years.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $18,100,000
• Address: 11029 West Colonial Drive
• Market: Ocoee
• Square Footage: 126,000
• Price per Square Foot: $144
• Buyer: Jacob Khotoveli - JBL Asset Management
• Seller: JM Schapiro - Continental Realty Corporation
• Brokers: Whitaker Leonhardt & Tommy Isola - Colliers

Continental Realty Corporation acted on behalf of Continental Realty Fund III in the transaction. The brokers from Colliers, Whitaker Leonhardt and Tommy Isola, represented the seller throughout the deal.