Publix spends $45M on Deerfield Beach shops
Real estate investment trust DDR sold the 156,000 sf shops
December 11, 2015 03:00PMBy Katherine Kallergis
Hillsboro Square in Deerfield Beach
Publix has added to its South Florida holdings with the $45 million purchase of Hillsboro Square in Deerfield Beach.
Lakeland-based Publix Super Markets paid $287 per square foot for Publix-anchored shopping center at 150 South Federal Highway. County records show that a DDR affiliate was the seller.
The 156,858-square-foot center was built between 1989 and 2003, according to property records. DDR, a publicly traded real estate investment trust that focuses on open-air shopping centers, paid $19.2 million for the 13.7-acre property in 2002.
Other tenants include Starbucks, Crown Wine & Spirits, Office Depot and Five Guys.
Earlier this year, Publix paid $53 million for a 13-acre shopping center in Wellington; as well as a similarly sized shopping strip in Hollywood for $39 million. The grocery chain announced in March that it would invest $1.3 billion in real estate, building new stores and technology during 2015.
Source: The Real Deal