The Sembler Co. & Forge Capital Partners Acquire Palm Plaza Retail Center For $17.8M

Located at 715 North 14th Street in Leesburg, Palm Plaza is a retail center spanning 133,419 square feet. The property was recently sold for $17.8 million in a transaction involving Greg Sembler of The Sembler Co. and Robert Moreyra of Forge Capital Partners as buyers. The seller, John W. Hueber of Crosspoint, facilitated the sale, with Colliers International brokers Brad Peterson, Tommy Isola, and Whitaker Leonhardt representing the seller. The retail center, anchored by Publix, boasts a 92% occupancy rate and features tenants such as Planet Fitness and Popeyes.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $17,800,000
• Buyer: Greg Sembler - The Sembler Co. ; Robert Moreyra - Forge Capital Partners
• Seller: John W. Hueber - Crosspoint
• Brokers: Brad Peterson, Tommy Isola & Whitaker Leonhardt - Colliers International
• Square Footage: 133,419
• Price Per Square Foot: $133
• Tenants: Publix, Planet Fitness, Popeyes

The acquisition of Palm Plaza was facilitated by Forge Real Estate Partners V LP, a joint venture between The Sembler Co. and Forge Capital Partners. The retail center's strategic location and attractive tenant mix were key factors in the successful transaction. With a diverse range of tenants, including popular brands like Planet Fitness and Popeyes, the property represents a promising investment opportunity for the buyers.