Publix bags Cooper City shopping center for $13M
Publix is on a South Florida shopping spree: it paid Federal Realty $53 million for a Wellington shopping strip last week, and now the supermarket chain has purchased a Cooper City retail plaza for $12.5 million.
The Pine Lake Plaza has two buildings with 115,306 square feet of space and is located at 10000 West Griffin Road. It was built in 1982 and is anchored by a Publix supermarket. Other tenants include a Dollar Tree, Subway and MetroPCS.
Barbara Williamson sold the property. She’s the daughter of the late Robert T. Williamson, a real estate mogul who built his wealth buying and selling gas stations. According to his obituary in the Sun Sentinel, Williamson sold his entire portfolio for $10 million in the 1950s and retired to Florida. Not too long into retirement, he returned to buying and supplying gas stations.
Barbara took control of the entity that owns Pine Lake Plaza soon after he died in 2007, according to Broward County records.
This is the latest sale in Publix’s campaign to invest $1.3 billion in real estate, renovations and technology by the end of 2015. Last week, the supermarket chain paid a whopping $53 million to the Federal Realty Investment Trust for another Publix-anchored shopping center in Wellington.