TAMPA, FL—Publix Super Markets remains aggressive with its commercial real estate strategy. The grocery store chain just purchased the freestanding, 28,800-square-foot Publix supermarket at Carillon Town Center for $5.2 million.
Mike Milano, managing director of retail investment services and Ron Schultz, director of retail investment services, both with Colliers International Tampa Bay, represented the seller. The property is located at 120 Carillon Parkway in Saint Petersburg, FL.
“The greatest investor demand for retail continues to be for grocery-anchored neighborhood centers, especially Publix-anchored centers,” says Schultz. And in many cases Publix is buying rights to the retail space it’s leasing.
Until now, Publix has leased the space at Carillon Town Center. The supermarket was offered the first right of purchase, allowing the option to buy the preferred location when the property was brought to market. Publix purchased the single-tenant retail property from White Development, a developer of retail investment properties primarily located within the Southeast.
In February, Publix grabbed Publix at St. Andrews, a 65,271-square-foot neighborhood shopping center in Port St. Lucie, FL. Located at 5455-5489 Northwest St. James Drive in Port St. Lucie, Publix at St. Andrews is the only grocery-anchored shopping center within a two-mile radius. The shopping center was built in 2003 and is 87.1% leased to tenants like Hair Cutlery, Subway, H&R Block, and the UPS Store.
Late last year, Publix Plaza, 52,600-square-foot grocery-anchored retail center in Tifton, GA, has traded hands. Publix Super Markets, Inc. purchased the unencumbered property from TMall Development, an RCG Ventures-related entity, for $7 million. Also, Columbia Regency Partners II, LLC sold off a portfolio of four grocery-anchored shopping centers. Publix Supermarkets acquired the retail assets for $37.5 million.