Jamestown Sells Publix-Anchored Retail Center for $68M
By Julia Echikson January 30, 2025 3:42 pm
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Kite Realty Group paid $68.4 million for a Publix-anchored retail center in West Palm Beach, Fla., property records show.
Called Village Commons, the 172,493-square-foot property includes AT&T, Duffy’s Sports Grill, Panera, European Wax Center, Jersey Mike’s and Crumbl Cookies, in addition to a 45,600-square-foot Publix supermarket. About 10,575 square feet remain vacant, per Kite Realty Group’s website.
The property, completed in 1987, spans 20.4 acres at 831 Village Boulevard, about a mile west of Interstate 95.
The seller, Atlanta-based Jamestown, purchased the five-building shopping center for $60 million in 2014, according to property records. Representatives for Jamestown and Kite Realty Group did not immediately respond to a request for comment.
For Kite Realty Group, a retail-focused REIT based in Indianapolis, the West Palm Beach purchase ups its South Florida portfolio to five properties. Jamestown still owns three Publix-anchored retail centers in South Florida.
As consumers return to in-person shopping to their nearest retail centers, Publix-anchored properties have become hot properties, including to Publix itself. Last year, the Lakeland-based company spent over $200 million to buy some of the complexes it anchors.
Julia Echikson can be reached at jechikson@commercialobserver.com.
