Equity One sells Jupiter shopping center to Sterling for $26M

15-acre property leased to Publix, Walgreens, TooJay's

Oct.October 23, 2019 02:30 PM
Bluffs Square in Jupiter (Credit: Google Maps)

Bluffs Square in Jupiter (Credit: Google Maps)

A company tied to Sterling Organization paid $25.9 million for a Publix-anchored shopping center in Jupiter.

Records show Equity One Florida Portfolio LLC sold the nearly 136,000-square-foot retail plaza at 4040 South U.S. Highway 1. Equity One is a subsidiary of Jacksonville-based Regency Centers. Regency Centers acquired the company for $5 billion in 2017.

Sterling affiliate SVAP III Bluffs Square LLC acquired the Jupiter shopping center, called Bluffs Square. It was built on a 14.7-acre property in 1986, according to property records.

In addition to Publix, other tenants include a TooJay’s Deli restaurant, a frozen yogurt shop, a CrossFit gym, Walgreens and an AT&T store.

Sterling Organization, a West Palm Beach-based private equity real estate investment firm, sold a Sedano’s-anchored shopping center in Pembroke Pines in April to Longpoint Realty Partners for $37.53 million.

Publix has also been acquiring a number of the shopping centers it anchors. Earlier this year the Lakeland-based grocer paid $70 million for the Doral Plaza Shopping Center.

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