710,000 SF Retail Center In Melbourne Trades

Second Horizon Capital has purchased Melbourne Square, a 710,000-square-foot shopping center in Melbourne.

The retail property, located along Florida’s Space Coast, traded for $56.3 million on March 2, according to the Orlando Business Journal. The seller was a joint venture between Neuberger Berman and Cross Ocean Partners.

Following the acquisition, Second Horizon Capital has begun a capital improvement initiative for the center. The program is expected to focus on building upgrades, operational enhancements, community engagement, expanded programming and partnerships with local businesses and organizations.

CBRE has been tapped to oversee leasing and property management at Melbourne Square.

The center’s tenant roster includes Dillard’s, Macy’s, Dick’s Sporting Goods, EoS Fitness, Bath & Body Works, American Eagle, Hollister, Foot Locker, Pandora, ALMA Med Spa, Aleena Diamonds and Candle Cart, among others.

Source:  RE Business