A rehab property is very profitable despite the low census of 55% prior to the marketing period and the recent transaction allowed for the in-state operator to lessen its exposure to the Texas Panhandle.

The project, which is expected to begin construction this month, will renovate the existing Riverside Center building and add nearly 20,000 square feet, increasing the building's size to 54,000 square feet.

While retail analysts continue to postulate the impact of the Winn-Dixie bankruptcy and its store closings, as well as Amazon's acquisition of Whole Foods', the fact remains that Publix is the “gorilla” in the grocery market, Avison Young states in the report.