Phillips Edison Buys Two Publix-Anchored Centers in $32M Florida Trade

PGIM Real Estate sold the 70,288-square-foot Shops at Sunset Lakes in Miramar, Florida and the 109,811-square-foot Town Center at Jensen Beach to Phillips Edison & Company for $32 million. Both centers are anchored by the strong-performing Publix, Florida’s dominant grocer.

Built in 1999, Shops at Sunset Lakes is currently 98.4% occupied with its Publix anchor operating at the site for over 23 years. The property is leased to a mix of national and local tenants, including Goodwill, State Farm Insurance, Sedation Dental Spa, Small World Montessori, The Tutoring Center, Sushi Ski and more. The center is located at 18401-18499 Miramar Parkway.

Town Center Shops at Jensen was built in 2000 and is currently 83.5% occupied to a mix of service, food and beverage, medical and fitness uses, as well as a freestanding Culvers outparcel. In addition to its Publix, which has 22-year history with the property, and Culvers, the center is also occupied by Orange Theory Fitness, Party City, Parents Choice Preschool, All Partners Network, Coastal Animal Hospital and more. The property is located at 4163 NW Federal Hwy.

JLL represented the seller in both transactions. The team was led by Senior Managing Director Danny Finkle, Senior Directors Eric Williams and Jorge Portela and Vice President Kim Flores.