The Real Deal Miami

Development on aisle three?

September 03, 2009 01:18PM

Supermarket chain Publix may head away from shopping centers and toward stand-alone stores as it does the math on the changing commercial real estate landscape. Woolbright Development CEO Duane Stiller said landlords seek 12 percent returns on their properties, way up from a few years ago. In the current market, Publix could issue a bond at 6 percent and build its own store at half the cost. Wal-Mart and Target have already started to take that option in some parts of the country.