Jacob Khotoveli Of JBL Asset Management Acquires Retail Center In Palm Harbor For $31M

The transaction involved a retail center located at 35104 U.S. Highway 19 North in Palm Harbor, Florida. The property, consisting of 51,000 square feet on a 10-acre site, was sold for $31 million, equating to approximately $607.84 per square foot. The asset is 91% leased and features a major tenant, Crunch Fitness, and is situated around 23 miles northwest of downtown Tampa.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $31,000,000
• Square Footage: 51,000
• Price per Square Foot: $608
• Buyer: Jacob Khotoveli - JBL Asset Management
• Seller: Alderman Group
• Market: Palm Harbor, FL
• Acres: 10.0

The buyer, Jacob Khotoveli, represents JBL Asset Management, while the seller is Alderman Group. This acquisition results in JBL Asset Management expanding its portfolio with an asset that has significant leasing in an established market.