Publix Expands With $130.4M Acquisition of Florida and Georgia Shopping Centers

Publix Super Markets purchased five shopping centers in central Florida and one in Georgia for $130.4 million. The grocery chain operates stores at all six sites.

Five properties sit in Orlando, Lake Mary, Windermere, Fort Myers, and St. Cloud. The sixth is in Newnan, Georgia. Maury L. Carter & Associates constructed each one.

The deal, totaling 411,980 square feet of retail space, was co- brokered by CBRE with Maury L. Carter & Associates. Both companies represented the seller, Maury L. Carter Management Corporation.

Why does Publix buy properties where it already operates? Control. This method hands the business greater authority over its real estate holdings and where stores sit. Buying properties shields operations from shifts in ownership or management that might create problems down the line.

South Florida has seen multiple Publix acquisitions. The company grabbed retail properties in West Kendall, a section of Miami. Two Davie retail centers hosting Publix stores shifted to company ownership through similar transactions.

The newest purchase expands the company's collection of owned properties throughout the Southeast. Each center functions as a neighborhood shopping spot, with the grocery store pulling in customers.