Aventura-based Elion Partners announced plans to renovate the Jupiter Reserve shopping center and to rename the 43,172-square-foot property Pennock Square.
Elion will install new signage, improve walkways, upgrade the shopping center’s parking lot and put new landscaping on the property. The company expects to complete the renovation work in summer.
“A variety of new shops and restaurants will be added to the existing tenant mix,” Elion said in a press release without elaboration.
“We’re already seeing interest from retailers who want a location in a market that will allow them to service customers in both eastern and western Jupiter,” Elizabeth Wright of brokerage Atlantic Retail Properties, said in a prepared statement. “More than 42,500 cars travel past the shopping center daily.”
Elion successfully renovated and attracted national brands to The Fresh Market Village in Jupiter, located east of Pennock Square on Indiantown Road.
“We see a similar opportunity to upgrade this center into a popular shopping destination for residents from the affluent Jupiter and Northern Palm Beach areas,” Gloria Fernandez, managing director of asset management at Elion, said in a prepared statement.