Publix rang up another South Florida shopping center deal, paying $40 million for a North Miami site anchored by one of its stores. Counting this recent acquisition, the Lakeland-based grocery chain has paid a combined $248.5 million for six Publix-anchored shopping centers in the tri-county region since May.
The latest purchase is a 61,858-square-foot Publix store and pharmacy, a 28,330-square-foot strip mall, a four-story office building and two outparcels at 12700, 12800, 12864 and 13000 Biscayne Boulevard, records show.
The seller, an entity managed by The Gordon B. Certain Jr. Trust of Atlanta and Lawrence C. Turner in Murphy, North Carolina, owned the 11.8-acre site since 2007, records show. The previous sale price was not available.
The outparcels are leased to McDonald’s and Elevation Fitness, and the office building’s ground floor is a Wells Fargo Bank branch. Other tenants include Manley’s Jewelry, MYVY Nails, GNC and GoPet Hospital.
The Publix store and the office building were completed in 1963, while the strip mall and outparcels were built in 2017, records show.
Publix, led by CEO Kevin Murphy, is among a handful of retail investors that were fully engaged in a South Florida shopping center buying spree last year. Publix paid a combined $67 million for Woods Walk Plaza in Lake Worth Beach and Crestwood Square in Royal Palm Beach in August. Both properties are anchored by Publix stores.
The same month, Publix picked up two Davie shopping centers anchored by its supermarkets for a combined $83 million. One of those deals, the $50.7 million purchase of a 12-acre retail site with four single-story buildings, was South Florida’s fifth priciest retail trade of 2024.
In May, Publix paid $58.5 million for Ramblewood Square Shopping Center in Coral Springs. That purchase was the region’s fourth priciest retail deal of last year. Other investors picking up Publix-anchored shopping centers include Garden Commercial. The Short Hills, New Jersey-based firm recently paid $37 million for Plaza Del Mar in Manalapan, representing Garden Commercial’s first retail purchase in South Florida.