The Real Deal Miami

Publix buys Lake Park shopping center for $9.3M

The trade of Northlake Promenade Shoppes breaks down to about $132 psf
By Amanda Rabines | September 06, 2017 02:30PM

Publix in Northlake Promenade Inset: David Phillips, Publix Executive Vice President/CFO

Publix just bought a shopping plaza in Lake Park for $9.25 million, property records show.

Boca Raton-based Woolbright Development is the seller of Northlake Promenade Shoppes. The retail developer bought the 69,970-square-foot shopping center at 370 Northlake Boulevard and 165 U.S. 1 last year for $9 million, records show. The latest trade breaks down to about $132 per square foot.

The shopping plaza in North Palm Beach is anchored by a Publix. Other tenants at Northlake Promenade Shoppes includes Sally Beauty Supply, The UPS Store and Supercuts. It was completed in 2000 by Twin Cities Investors and Developers of Northlake.

Woolbright was not immediately available for comment.

Publix has been acquiring more of its stores over the last few years. In April, Publix bought its location in West Miami for $23.2 million. Also in April, a joint venture between the grocer and Echo Realty paid $29.6 million for Pompano Plaza, a Publix-anchored shopping center in Pompano Beach.