JLL Arranges Sale Of 150,000-SF Retail Center In Palm Bay

JLL has brokered the sale of Marketplace at Palm Bay, a 149,752-square-foot retail center anchored by Winn-Dixie and Bealls Outlet in the eastern coastal Florida community of Palm Bay.

The sales price was not disclosed.

Brad Peterson, Whitaker Leonhardt and Tommy Isola of JLL represented the seller, DLC Management Corp., in the transaction. A private Florida-based investment group acquired the asset.

Marketplace at Palm Bay is situated on nearly 17 acres at 5270 Babcock St. NE and is visible to more than 47,000 vehicles per day.

Palm Bay is in the Melbourne MSA between Jacksonville and Miami and 60 miles southeast of Orlando. In addition to Winn-Dixie and Bealls Outlet, the 92% leased retail center is home to tenants Workout Anytime, Brevard Health Alliance, CSL Plasma and Healthworx.

The property was listed on CRE transaction platform Ten-X.

Source:  ConnectCRE