Publix is buying a downtown West Palm Beach development site from Related Ross in the grocer’s latest maneuver as a major South Florida retail real estate investor.
The Lakeland, Florida-based chain, led by CEO Kevin Murphy, is under contract to buy 2.3 acres from affiliates of Related Ross to develop a roughly 40,000-square-foot store with covered parking, the South Florida Business Journal reported.
In 2022, billionaire Steve Ross’ firm assembled the properties at 210 North Sapodilla Avenue, 606–622 Second Street, 248–252 North Rosemary Avenue and 605–621 Banyan Boulevard through a series of deals totaling $15 million, records show.
Publix wants to buy another 0.8 acres from the city of West Palm Beach for about $3.5 million, which would give the company control of the entire block at 202–206 North Sapodilla Avenue.
City commissioners unanimously approved the proposed sale on first reading Monday. It is scheduled for a final vote on March 16. The agreement includes a restrictive covenant requiring Publix to operate a grocery store on the site for at least 15 years.
The commission last year declared the city-owned parcels surplus, clearing the way for a sale, and commissioners said they expect completion of the store by June 2028.
The downtown store would rise across from another Related Ross site where the developer is planning Sapodilla, a mixed-income multifamily complex with 164 apartments and a three-story, 188-space parking garage.
The downtown deal fits a broader real estate play by Publix, which has amassed retail development sites and Publix-anchored shopping centers across the tri-county region in recent years. In December, Publix dropped $83 million for Polo Club Shops in Boca Raton, pushing its South Florida tab to nearly $428 million for a standalone store and eight Publix-anchored centers since 2023.
In October, the company paid $71.9 million for Hammocks Town Center, a 207,500-square-foot retail plaza anchored by a Publix store in Miami-Dade County’s Kendall unincorporated neighborhood.
— Francisco Alvarado
