ATLANTA—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.

Publix Plaza is located at 620 Virginia Avenue North next to the Interstate 75 in Tifton. Completed in 2012, the shopping center is 98.1% leased and is next to Tifton Plaza, which is home tenants such as Belk, JCPenney, Bealls Outlet, JoAnn Fabrics, TJ Maxx, and Carmike Cinemas.

HFF managing director Brad Peterson and real estate analyst Whitaker Leonhardt represented the seller. “Due to its location and its Tifton Plaza shadow anchor, Publix Plaza enjoys an extended trade area that spans more than 20 miles," Peterson says. "With the nearest Publix being more than 45 miles away, customers are travelling considerable distances to visit the center.” 

Last week, 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.

“Publix's strategy has been to continue to acquire in-fill centers where they have enjoyed strong sales so they may control their real estate for the long-term,” Anthony Blanco, director of Investment Sales at The Shopping Center Group, tells GlobeSt.com. “They are very well capitalized and continue to post strong earnings growth, so I do not expect them to slow down their acquisition strategy in the future."