Publix pays $24.45M for Coral Springs retail center it anchors

The seller, AEW Capital Management, got more than double the last price for Lakeview Center

TRD MIAMI /
Dec.December 30, 2017 09:00 AM

Lakeview Center at 1300 and 1478 Coral Ridge Drive in Coral Springs (Credit: South Florida Business Journal)

Publix Super Markets paid $24.45 million for a shopping center in Coral Springs where the supermarket operator is the anchor tenant.

Publix paid $305 per square foot for Lakeview Center, an 83,288-square-foot shopping center at 1300 and 1478 Coral Ridge Drive.

The seller is Lakeview Shopping Center LLC, an affiliate of AEW Capital Management in Boston.

The last time it was sold, the Coral Springs shopping center traded in 2000 for $11.55 million, less than half the price Publix paid.

Lakeview Center was built on a 9.9-acre site in 1996. Together with Publix, the shopping center’s tenants include AT&T Store, Hair Cuttery, Joe’s Pizza & Pasta, Subway and UPS Store.

Buying shopping centers that it anchors has been an important element of Publix’s real estate strategy, according to the Tampa Bay Business Journal. [South Florida Business Journal] — Mike Seemuth


Related Article

arrow_forward_ios

State report finds open gas valve fueled building explosion at Plantation shopping center

Bayside Marketplace is planning another high-rise entertainment venue with a view

Construction of downtown Hollywood high-rise may start soon

South Florida firm, partner acquire Tampa office building for $29.4M

Developer borrows $105M, breaks ground for mixed-use Flagler Village project

Moishe Mana plans mixed-use project with logistics theme next to airport in Panama

Power restored after blackout envelopes West Side of Manhattan

Virgin Trains may announce 3 new train station sites in South Florida by year-end

arrow_forward_ios