The Real Deal Miami

Publix spends $45M on Deerfield Beach shops

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