MERRITT ISLAND, FL-In the highest per-sf price paid for a shopping center in Central Florida this year, Edens & Avant of Columbia, SC bought the two-year-old, 90%-leased, 52,276-sf Beachway Plaza at 402 E. Danie Beach Blvd. here from Publix Supermarkets of Lakeland for $11.2 million or $214.24 per sf.

In a second transaction, Edens & Avant also paid a premium in acquiring the 57,771-sf, two-year-old, 100%-leased Publix at Holly Hill shopping center from Publix Supermarkets near Daytona Beach for $7.8 million or $135.01 per sf. Trammell Crow Co. brokers Whitney Knoll and Brad Peterson represented Publix in both sales.

The deals were done at this time to "maximize the opportunities in the market," John M. Crossman, senior vice president in Trammell Crow's Southeast retail investment division, tells GlobeSt.com. "Low interest rates and high demand for grocery-anchored centers have many owners interest in selling."

Crossman says the $135.01 per sf price Edens & Avant paid for the Holly Hill property at 1850 Ridgewood Ave. is also on the high side. "Typically, when you see a price north of $100 per sf, you know the price is high," the broker tells GlobeSt.com. Retail properties continue to be a hot item among most investors this year, Crossman says.

"The retail investment sales market across the country is still very hot," he says. "Specifically, Florida, along with Southern California, leads the nation in pricing." Crossman adds, "The demand for grocery-anchored centers in Florida is still very strong, especially when you have Publix as the anchor."

The Trammell Crow executive says Edens & Avant and Publix didn't have to overcome any special environmental or local governmental challenges before closing the two transactions. "These were very clean deals, very simple," Crossman says.