Publix Super Markets just closed its $10.65 million purchase of a building it anchors near West Palm Beach, continuing a year-long $1.3 billion campaign to buy and upgrade retail properties in the Southeast.
The grocery giant’s purchase includes a single-tenant commercial building that Publix occupies at 6820 Okeechobee Boulevard in unincorporated Palm Beach County. Measuring 48,297 square feet, the property’s sale price breaks down to about $220 per square foot.
The building is one piece of a larger retail plaza that houses Home Depot, two bank branches and three chain eateries, most of which are on separate parcels.
A limited liability company called AJR FLA was the seller. Corporate records show its principals are Alan and Reda Riley, who paid $9.215 million for the Publix building in 2006.
Early last year, Publix Super Markets announced it was launching a $1.3 billion campaign to buy out its landlords, build new stores and upgrade its technologies.