Kevin Murphy

Over the past few years, retailers have been snapping up some of the real estate they occupy. When interest rates stayed high and traditional real estate players laid low, vendors took advantage of the moment, often paying in cash. 

In New York, luxury fashion behemoths Kering and Prada were particularly active. 

In South Florida — and perhaps all of Florida — none was busier than Publix.

With Kevin Murphy at the helm since his 2024 promotion from president to CEO, the grocery store chain, which has built up a ubiquitous presence across the state, has spent at least $428 million over the past year or so to acquire real estate that it anchors. The move gives the grocer greater control over the look and operation of the properties that power its business, which generated nearly $63 billion in revenue in 2025, including about $4.7 billion in net earnings.

Last year, the Lakeland-based company paid $83 million to purchase a shopping center in Boca Raton, where it operates a 48,400-square-foot supermarket. Earlier in the year, it also bought a 207,500-square-foot property in Kendall for nearly $72 million. 

Other acquisitions included the $25 million purchase of a strip mall adjacent to the Galleria Mall in Fort Lauderdale last March, and the $40 million buy of a retail property in North Miami at the very start of 2025.

Now Publix is looking to get into the development business, too. Just last month, the company agreed to buy parcels in Downtown West Palm Beach to build one of its largest supermarkets in the city.