Publix Acquires Two Shopping Centers

MIAMI—Publix Super Markets is making a move to buy South Florida shopping centers in which it currently leases space. Entities affiliated with Publix recently acquired Plantation Town Square and Colonial Shopping Center.

HFF director Luis Castillo, along with senior managing director Daniel Finkle and senior analyst Robert Saracco, represented the seller. Plaza Development Realty sold the assets to Publix.

“Core acquisition opportunities like these are increasingly rare but we are continuing to see very strong demand by investors for trophy retail properties across our Florida markets,” Castillo tells GlobeSt.com. “Plantation Towne Square and Colonial Shopping Center are among the most successful and highest volume grocery-anchored shopping centers in South Florida.”

Developed in 2001, the 108,111-square-foot Plantation Towne Square is 98.6% leased to tenants including Publix, Publix Liquors, Starbucks, Verizon, Bank United, Gamestop, Hair Cuttery, and Allstate. The property sits on a 10.6-acre site at 6905-6989 West Broward Boulevard in Plantation, which is just west of Fort Lauderdale.

Colonial Shopping Center is located on a six-acre site at 9510 - 9698 SW 160th Street adjacent to South Dixie Highway in Miami. The shopping center was developed in 1997 and expanded 10 years later. It is 95.8% leased to tenants including Publix, Family Dollar, FootLocker, MetroPCS, RadioShack, Gamestop, and Space Coast Credit Union.