Publix Buys Yet Another Store In South Florida

Publix’s shopping spree in South Florida continues. 

The grocery chain company put down $40 million for a strip mall, where it’s the anchor tenant, along Biscayne Boulevard, one of the busiest arteries in Miami-Dade County, property records show. 

In addition to the 61,858-square-foot Publix grocery store, the 11.8-acre site at 12800 Biscayne Boulevard in North Miami includes a four-story, 22,877-square-foot office building that houses a Wells Fargo retail branch, and a 4,362-square-foot McDonald’s.

The purchase marks at least the sixth real estate purchase in South Florida this year by the Lakeland-based company in which it is also a tenant at the property. The transactions total nearly $200 million and include shopping centers in Coral Springs, two in Davie, and two in Palm Beach County. 

A representative for Publix did not immediately respond to a request for comment.

The moves are part of a broader trend of retailers snapping up their own stores while the capital markets remain less competitive due to elevated interest rates and to hedge against future rent hikes. 

In January, grocer Whole Foods, which is owned by Amazon, paid $21 million for its 41,000-square-foot store in Downtown Miami. Alo Yoga, the athleisure brand favored by young celebrities and influencers, followed suit by buying its 4,957-square-foot store in the Miami Design District for $22 million as well as a retail condo on Lincoln Road, where it’s expected to open a boutique. 

Julia Echikson can be reached at jechikson@commercialobserver.com.