Publix Inks $10M Sale and Leaseback with Developer on Plantation Store

Publix Super Markets executed a sale/leaseback deal for one of it Plantation stores.

The Lakeland-based supermarket chain sold the 60,860-square-foot store at 1181 S. University Drive for $10.03 million to University Drive Edens, an affiliate of Columbia, S.C.-based shopping center owner Edens. The buyer signed a 20-year lease with Publix that gave the tenant the right of first refusal to purchase the property for at least 95 percent of any offer price offered by a third party.

The store was built on the 4.6-acre site in 1978, although it has been renovated more recently. Publix bought it for $6.45 million in 2008, so it made a nice profit on the property.


The information contained herein was obtained from sources deemed to be reliable. However, Salzman Real Estate Advisors makes no guarantees, warranties, or representations as to the completeness or accuracy thereof.
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