We all are familiar that Lakeland-based Publix Super Markets has a reputation of acquiring commercial real estate for investment purposes. Publix continues to be on the move in South Florida by crossing off yet another commercial real estate item on its list. This year, Publix purchased a commercial property for nearly 13 million on Miami Beach. Windsor Investments sold the 13,694-square-foot building located at 1845 Alton Road. The deal also assumed lease to Walgreens.
Meanwhile, plans to open the Publix supermarket in Islamorada remain held up due to court. The shopping location is expected to be completed and open to public by fall of 2017. Gadinsky Real Estate LLC, is the developer of the 18 acres site located between East Palm Drive and Southeast 1st Avenue.Florida City Mayor Otis Wallace stated last month that his constituents are “overwhelmingly in favor” of the proposal. “It will provide jobs, and Publix is a store grocery shoppers love,” Wallace said.
The supermarket planned is 45,000 square feet, located on more than eight acres,of land, and with 12,250 square feet remaining for shopping space. Publix’s plan also will include 302 parking spaces with access from U.S. 1 and East Palm Drive. The court litigation preventing Publix from building a 34,062-square-foot, 161-parking-space store at mile marker 83 on Upper Matecumbe Key is being sued due to block construction.
Publix also purchased a shopping center for $5 million this year. In March, Codina Partners announced that Publix would have the only supermarket located in the120-acre Downtown Doral Project. The project includes 2,840 residential units, 400,000 square feet of office, a charter school and more than 70 stores and restaurants. Publix is expected to begin construction in September and the project will be completed in December 2017.
Just last December, Publix shopping spree involved a $45 million purchase of Hillsboro Square in Deerfield Beach. The 138,572-square-foot center at the southeast corner of U.S. 1 and Hillsboro Boulevard was sold by DDRTC Hillsboro Square, an affiliate of Beachwood, Ohio-based shopping center developer DDR Corp. to Real Sub, a subsidiary of the Lakeland-based grocer.
Publix’s December deal includes the 126,042-square-foot shopping center at 150 S. Federal Highway, the 1,674-square-foot Starbucks building at 130 S. Federal Highway, the 9,792-square-foot SunTrust Bank branch/office at 110 S. Federal Highway, and a 1,064-square-foot retail building behind the Publix at 199 S.E. 12th Ave.
Additional local shopping centers in the Florida area which Publix has purchased include the $19 million acquisition of Sea Plum Town Center, the $12.5 million purchase of Pine Lake Plaza, the $24 million purchase for Crosstown Plaza, and the $35 million purchase of the Courtyard Shops at Wellington.