Orion Delivers Strong Return With $52.75 Million Sale of The Shoppes at Jupiter; Whole Foods Market to Join Tenant Roster
Miami-based Orion Real Estate Group announced it has completed the sale of 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 Palm Beach Gardens-based 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.
“This transaction demonstrates Orion’s ability to acquire, improve, and monetize retail assets in high-demand markets,” said Chris Sanz, president of Orion Real Estate Group. “Over the past decade, we were able to add significant value to The Shoppes at Jupiter, and the recent addition of Whole Foods Market as a new anchor underscores the continued strength of this location. We are proud to have played a role in the property’s success and in Jupiter’s ongoing growth as one of South Florida’s premier retail corridors.”
The Shoppes at Jupiter occupies a highly visible location along U.S. Highway 1 and Indiantown Road, benefiting from strong demographics. More than 80,000 residents live within a five-mile radius, with household incomes well above the national average. The center’s mix of national brands, dining options, and service providers has made it a cornerstone of the Jupiter retail market.
Noah Jones and Dan Lynch from Atlantic Retail helped facilitate the transaction.
About Orion Real Estate Group: Orion Real Estate Group provides commercial real estate services to investment clients around the world. Since its founding in 1978, the firm has been involved in more than $8.5 billion in transactions and holds a portfolio exceeding $1.5 billion. Orion’s headquarters are located at 200 S. Biscayne Blvd, 7th Floor, Miami, FL 33131. For more information, visit https://orionmiami.com/ or call (305) 278-8400 or 1-888-255-4502.
