The Real Deal Miami

Publix spends $45M on Deerfield Beach shops

Real estate investment trust DDR sold the 156,000 sf shops

December 11, 2015 03:00PM
By Katherine Kallergis

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Hillsboro Square in Deerfield Beach

Hillsboro Square in Deerfield Beach

Publix has added to its South Florida holdings with the $45 million purchase of Hillsboro Square in Deerfield Beach.

Lakeland-based Publix Super Markets paid $287 per square foot for Publix-anchored shopping center at 150 South Federal Highway. County records show that a DDR affiliate was the seller.

The 156,858-square-foot center was built between 1989 and 2003, according to property records. DDR, a publicly traded real estate investment trust that focuses on open-air shopping centers, paid $19.2 million for the 13.7-acre property in 2002.

Other tenants include Starbucks, Crown Wine & Spirits, Office Depot and Five Guys.

Earlier this year, Publix paid $53 million for a 13-acre shopping center in Wellington; as well as a similarly sized shopping strip in Hollywood for $39 million. The grocery chain announced in March that it would invest $1.3 billion in real estate, building new stores and technology during 2015.

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