Orion Real Estate Group sold The Shoppes at Jupiter, a 197,000-square-foot shopping center at the intersection of Indiantown Road and U.S. Highway 1 in Jupiter, Fla. The property sold for $52.75 million in an off-market transaction to Ram Realty Advisors. Orion acquired the property in 2015 for $27.8 million.
Built in 1981 and renovated in 2014, the shopping center benefited from a comprehensive repositioning strategy during Orion’s ownership, including capital improvements, tenant retention, and lease enhancements that strengthened long-term asset value.
The property was anchored by Cinépolis Luxury Cinemas, Palm Beach Sports Club Gym, Staples, and Bealls, along with a variety of dining and service providers. Whole Foods Market has been announced as a new anchor tenant, a move expected to further strengthen the center’s long-term performance…