Publix continues expanding its South Florida portfolio, picking up a pair of Davie shopping centers for a combined $83 million.
The Lakeland-based grocery chain paid $50.7 million for Davie Shopping Center at 4601-4777 South University Drive, and $32 million for Regency Square Shopping Plaza 4801-4995 and 4997 Southwest 148th Avenue, records and real estate database Vizzda show.
The deals break down to $444 per square foot and $304 per square foot, respectively.
Boca Raton-based Southeast Centers and Newark, New Jersey-based PGIM, the real estate arm of Prudential, sold both retail properties to Publix.
In 2003, the joint venture paid $11.1 million for Davie Shopping Center, a 12-acre retail site with four single-story buildings built in 1979, 1984 and 2018, records show. Anchored by a Publix store, the retail property’s tenants also include Baptist Health Urgent Care, Starbucks, Amerant Bank and Verizon.
Southeast Centers and PGIM acquired the 14.5-acre Regency Square site in 1989, records show. The previous sale price is not listed on the deed. The joint venture completed Regency Square’s four single-story buildings in 1991 and 1997. Also anchored by a Publix store, the shopping center’s tenant roster includes Shimuja Ramen, TT Nails, Cubico Coffee and Primo Liquors.
Publix is on a buying streak for shopping centers anchored by the company’s stores, dropping a combined $220 million for South Florida retail properties since 2021, including the recent purchases in Davie.
In May, Publix paid $58.5 million for Ramblewood Square Shopping Center, a 157,914-square-foot retail plaza in Coral Springs. Apollo Global Management sold the 15-acre property to Publix.
In 2022, Apollo also sold Rover Bridge Centre, a Publix-anchored shopping center with nine outparcels, to the grocer for $56.5 million.
Public also bought a waterfront development site in Hollywood for a new store for $12.8 million in 2022.
