Towne Square in Ocoee sells for $18.1 million

Towne Square, a 126,000-square-foot neighborhood shopping center, in Ocoee sold for $18.1 million.

JBL Asset Management, a Florida-based real-estate investment manager, acquired the retail center from Continental Realty Corporation.

Town Square is located at 11029 W. Colonial Drive and is anchored by Gabe's and My Salon Suite.

"Towne Square is an excellent example of CRC's long-term, strategic approach to value creation," said Rachel Lee, director of retail asset and portfolio management for CRC, in a news release. "During our 10-year hold period, our team executed a thoughtful leasing and capital improvement plan that strengthened the tenant mix, improved traffic to the center and improved the shopping center for the surrounding community. We are proud of the collaborative work across our organization that contributed to this successful outcome."

CRC acquired Towne Square in 2015.