Publix Pays Union Investment $78 Million for Retail Center

Publix bagged a shopping center near Boynton Beach for $78 million, as part of the grocer’s spree of buying retail plazas anchored by its supermarkets.

Lakeland-based Publix bought the Fountains of Boynton at 6627 Boynton Beach Boulevard in unincorporated Palm Beach County from an entity tied to Union Investment Real Estate and Bolder Group, according to records and real estate database Vizzda.

The purchase brings Publix’s total acquisitions of Florida shopping plazas over the past two years to roughly $326.5 million.

The Fountains of Boynton deal pencils out to $436 per square foot.

The property spans nearly 179,000 square feet on 21 acres and has five one-story buildings completed between 1995 and 2020, Vizzda records and property records show.

Publix has a nearly 57,000-square-foot supermarket at the plaza, and other tenants include LA Fitness, an urgent care center, restaurants and beauty service providers.

The sale marked a $1.5 million markdown from the Fountains of Boynton’s sale price five years ago. Union Investment, an investment arm of Germany’s DZ Bank Group, paid $79.5 million for the property in 2021, according to records.

The property had been part of Union Investment’s UniImmo: Europa open-ended real estate fund portfolio, according to a Union news release.

Publix, led by Kevin Murphy, paid $40 million last year for one of its stores, a pharmacy, a strip mall, a four-story office building and two outparcels in North Miami.

The grocer paid $67 million in 2024 for a pair of Publix-anchored shopping plazas in Lake Worth Beach and Royal Palm Beach. That deal was part of Publix’s seven-property purchase of shopping centers across Florida for a combined $224 million. Also in 2024, Publix paid $58.5 million for a Coral Springs shopping center, also anchored by one of its supermarkets.