Publix is back at the South Florida retail checkout line, paying $25 million for one of its stores near Galleria Mall in Fort Lauderdale.
Since last year, the Lakeland-based grocery chain has dropped $273 million for standalone Publix supermarkets and shopping centers anchored by its stores, including its latest purchase.
An affiliate of Publix, led by CEO Kevin Murphy, acquired the store and an outparcel building leased to Starbucks at 2501-2519 East Sunrise Boulevard, records and real estate database Vizzda show. The deal breaks down to $678 a square foot.
The seller, a City National Bank of Florida trust, acquired the 2.5-acre property in 1977, according to records. The previous sale price is not listed on the deed. The buildings, spanning 36,822 square feet, were completed in 2011.
The Fort Lauderdale store purchase comes after Publix picked up a North Miami shopping center with two outparcels and an office building for $40 million in January. In addition to being anchored by a Publix supermarket, the 11.8-acre property’s tenants include McDonald’s, Elevation Fitness, Wells Fargo Bank, GNC and GoPet Hospital.
In August, Publix bought four shopping centers anchored by its stores in Davie, Lake Worth Beach and Royal Palm Beach for a combined $150 million, including a $50.7 million acquisition of a 12-acre site with four single-story buildings. It ranked as South Florida’s fifth priciest retail trade of 2024.
In May, Publix picked up Ramblewood Square Shopping Center in Coral Springs for $58.5 million.
Other investors getting in on the Publix action include Kite Realty Group, led by CEO John Kite. In January, Indianapolis-based Kite acquired Village Commons Shopping Center in West Palm Beach for $68 million. In addition to Publix, tenants include AT&T, Duffy’s Sports Grill, European Wax Center, Jersey Mike’s, Tenet Health and The UPS store.