Jacob Khotoveli Of JBL Asset Management Acquires Village Market In Wesley Chapel For $30M

The sale involves a retail asset located at 5268 Village Mart in Wesley Chapel. The transaction was finalized for $30,000,000, covering a total area of 98,547 square feet, which amounts to a price per square foot of $304. The property is a fully leased shopping center situated near Tampa and features a variety of tenants, including Ace Hardware, AutoZone, and Burger King, anchored by a 30,537-square-foot Crunch Fitness.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $30,000,000
• Buyer's Name: Jacob Khotoveli
• Buyer's Company: JBL Asset Management
• Seller's Name: Wesley Chapel SC Co. Ltd
• Brokers: Drew Kristol & Kirk Olsen
• Brokerage Firm: Institutional Property Advisors - Marcus & Millichap
• Square Footage: 98,547
• Price Per Square Foot: $304

Institutional Property Advisors facilitated the transaction, showcasing their expertise in handling significant property sales. The brokers involved, Drew Kristol and Kirk Olsen, played a crucial role in coordinating this deal between the buyer and seller, ensuring a smooth process for the fully leased retail space.