Value-Add Strategy Drives $19M Sale at Baron Shoppes of Port St. Lucie

Baron Shoppes of Port St. Lucie, a 114,585-square-foot shopping center located at US-1 and SE Jennings Road, has sold for $19 million, representing one of the largest commercial real estate transactions in the area this year.

The property was originally acquired for $11 million and underwent approximately $2 million in renovations, including new HVAC units, a modernized façade, fresh exterior paint, and an upgraded monument sign. At the time of acquisition, tenants included Aaron’s and Dollar Tree, among others.

Through an aggressive leasing strategy led by Sales and Leasing Associate Conor Mackin, the center achieved full occupancy. Notable leases included Crunch Fitness taking a 48,000-square-foot anchor space, Remy’s Diner occupying 3,450 square feet, and the expansion of Collaborative Behavior Group into an additional 2,400 square feet.

Sales and Leasing Associate Conor Mackin served as the lead listing agent throughout the repositioning, leasing, and disposition phases of the project. Mackin worked alongside Broker and CEO Jeremiah Baron to bring the transaction to a successful close.