Shopping for South Florida strip malls anchored by its stores is a pleasure for Publix.
An affiliate of Lakeland-based Publix, led by CEO Kevin Murphy, paid $71.9 million for Hammocks Town Center, a 207,470-square-foot shopping center anchored by a Publix supermarket at 10201 Hammock Boulevard, records show. The purchase is Publix’s latest acquisition in a buying spree that began last year.
Publix paid $347 a square foot for Hammocks Town Center, which is in Kendall, an unincorporated neighborhood in southwest Miami-Dade County. The deal did not include five outparcels owned by other entities, including Bank of America, Extra Space Storage, McDonald’s, 7-11 and Kendall Ice Arena, records show.
The seller, an affiliate of Jacksonville-based Regency Centers Corporation, led by CEO Lisa Palmer, sold Hammocks Town Center for nearly $54 million above the previous sale price 26 years ago.
In 1999, Regency Centers paid $18 million for the 26.3-acre site, records show. The shopping center was completed in 1987. Hammocks Town Center’s tenant roster includes West Kendall Regional Library, CVS, Dollar Tree, YouFit and Subway.
Including Hammocks Town Center, Publix has dropped a combined $344.9 million for a standalone store and seven South Florida shopping centers anchored by its supermarkets since May of last year.
In March, the grocer acquired a Publix store and an outparcel building leased to Starbucks in Fort Lauderdale for $25 million. The property is adjacent to the Galleria Fort Lauderdale mall that was recently sold to a partnership led by Miami-based developer Russell Galbut.
In January, Publix paid $40.8 million for a North Miami strip mall and two outparcels on 11.8 acres. In addition to being anchored by a Publix supermarket, the property’s tenants include McDonald’s, Elevation Fitness, Wells Fargo Bank, GNC and GoPet Hospital.
Last year, Publix acquired five shopping centers anchored by its stores in Coral Springs, Davie, Lake Worth Beach and Royal Palm Beach for a combined $208.5 million.
