The Real Deal Miami

Equity One sells West Palm shops to Publix for $16.3M

Center last sold for $9.25 million in 2002
The Publix-anchored shopping center that just sold in West Palm Beach

The Publix-anchored shopping center that just sold in West Palm Beach

A shopping center in West Palm Beach was just purchased by Publix for $16.25 million.

The strip, located at 10130 Northlake Boulevard, is already home to a Publix Supermarket, as well as several local restaurants, an animal hospital and the UPS Store. Two outparcels are also on the property — a gas station and bank — but they were not included in the deal.

William E. Crenshaw, CEO of Publix Supermarkerts

William E. Crenshaw, CEO of Publix Supermarkerts

The center was built in 1999 on a 12-acre property. The shops span 80,518 square feet and were most recently owned by Equity One, a real estate investment trust that specializes in developing and managing shopping centers. The company paid $9.25 million to acquire the center in 2002 from North American Properties, a development firm based out of Cincinnati, Ohio, according to Palm Beach County property records.

Publix announced earlier this year that it would invest $1.3 billion in acquiring real estate, building new stores and renovating its existing supermarkets.

The corporation purchased another Publix-anchored shopping center in Hollywood for $39 million last month.