Investment Group Purchases Palm Beach County Retail Center for $25 Million

JB Capital Management LLC has purchased Fresh Market Village in Jupiter for $25.5 million. The 55,046-square-foot property at 311 E. Indiantown Road sits near the Intracoastal Waterway, offering a mix of neighborhood restaurants and high-end retail stores.

“With 97% occupancy, an excellent location and only a handful of value-add capital improvements needed, Fresh Market Village fits our investment strategy of buying and holding high-quality properties in locations where we believe the market has strong fundamentals,” Jessica Giguere says, a co-founder of JB Capital Management, along with Ben Karp. “This is just the beginning for us. We have some exciting opportunities in the works in both the southeast and northeast.”

The center was constructed in 1989 and updated in 2014 when Fresh Market, a specialty grocery retailer, opened. The highlighted tenants include 2 Vinez Restaurant & Wine Bar, Starbucks, Casa Mia, and women’s clothing boutique Gretchen Scott Designs.

“Jupiter is quickly becoming one of the most desirable cities along the South Florida coast to live, and it was important to us to have a presence in the market,” Karp says. “We were attracted to the neighborhood feel of the center, a place that brings people together to shop, enjoy a good meal, and relax. We have two small vacancies, and we are working on leasing up those spaces with some unique tenants. Our main goal is to continue to add to the community here in Jupiter and make this a desirable place to spend time.”

Giguere and Karp have developed an extensive property portfolio across South Florida and the northeast U.S., including owning and operating an industrial property in Lake Worth.

“We are deploying capital into projects that produce good yield and long-term appreciation,” Karp says. “We are very selective in what we choose to purchase. Each deal must meet our investment criteria and a thorough business plan is created for each acquisition. Our investors are counting on us to produce outsized returns and good cash flow and therefore we must be scrupulous in our evaluations of what to buy and develop.”

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Drew Limsky

Drew Limsky



Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.