MIAMI-Grocer Publix has made a $20.7-million construction loan to help facilitate the development of its new store on S.W. 57th Avenue here.
The grocer's financing was extended to Orlando-based Imperial Orion, which owns the nearly two-acre proposed new store site at 1500 S.W. 57th Ave.
The loan is the first the grocer has issued in Miami-Dade County, according to the South Florida Business Journal. The property formerly housed a Branch Banking & Trust Co. location.
Publix will be extended a short-term lease upon the issuance of a certificate of occupancy. The grocer has the option to acquire the property at the end of the lease term. See story in the South Florida Business Journal.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
