Publix Pays $83 Million To Buy Out Its Landlord In Florida Shopping Centers

Photo byqwesy qwesy, CC BY 3.0, via Wikimedia Commons

Two Florida shopping centers - Davie Shopping Center and Regency Square at Broward - will have new landlords. And it's a grocer that may not be a surprise because Publix has been expanding its Florida presence. I've written about Publix adding multiple new stores or demolishing and rebuilding old stores. Publix has also previously bought out a landlord. I recently wrote about the grocer buying out The Ramblewood Square Shopping Center in Coral Springs for $59 million. And now two additional Florida shopping centers will be getting the same treatment.

About Davie Shopping Center: This shopping center includes an upgraded Publix, a Starbucks, a UPS store, a Jet's Pizza, and a Leslie's Pools.

The shopping center earns 4.4 out of 5 stars on Google reviews. Many people enjoy the convenience of having so many things in one place. A reviewer named Renee writes:

"Very convenient. Many nice stores and shops. You can do anything you need to do at this Shopping Center. Plenty of parking. The people are so pleasant! Davie is a wonderful place to live!"

The Publix Purchase: Publix bought the shopping center for $50.7 million. The last sale of the same was sold for $11.15 million in 2003, so there was a profit.

About Regency Square at Broward: This shopping center is anchored by an established Publix and also includes Cubico Coffee and Primo Liquors.

This shopping center earns 4.3 out of 5 stars on Google reviews. Some noted the cleanliness of the shopping center. A reviewer named Dayana wrote:

"Always clean. Has quite a few shops and Publix. Two gas stations right by it. It’s also right off (the) I-75 (and) East Griffin exit."

The Publix Purchase: Publix paid $32.3 million for this shopping center. It has not been previously sold.

Buying out its landlord allows Publix to not pay rent, but also to have more control over the tenants around it.

The author is not affiliated with Publix or any other grocers, restaurants, or retailers.