The Real Deal Miami

Publix sells Plantation supermarket for $10M

Chain leased store back for 20 years
December 16, 2014 04:30PM

A Publix store

A Publix store

More than the produce is green.

Publix Super Markets sold one of its Plantation stores for $10 million but is staying put as a tenant on a 20-year lease, according to a published report.

University Drive Edens, an affiliate of an affiliate of Columbia, S.C.-based shopping center owner Edens, was the buyer of the property, which Publix bought in 2008 for $6.45 million, the South Florida Business Journal reported.

The store at 1181 South University Avenue has nearly 61,000 square feet and sits on a 4.6-acre site.

Publix, which is based in Lakeland,  has a right of first refusal to buy the property back for at least 95 percent of the price offered by another party. [South Florida Business Journal] — William J. Gorta