Over the last two weeks Publix has purchased three different shopping centers where its market is the anchor tenant. The Lakeland-based market chain closed on two centers in the Orlando area – $14.3m purchase of the 125,597 square-foot East Towne Center in Clermont and $24.8m purchase of the nearly 120,000-square-foot Hollieanna Shopping Center in Winter Park. In South Florida it purchased the 80,414-square-foot Doral Isles Plaza for $26.2m.
The prevailing thought on why Publix is purchasing the plazas they anchor is to control the tenants of the retail center. Increasing competition from restaurants offering prepared foods is at odds with Publix’s offerings. Publix is now in a position to monitor other food providing businesses that could approach the centers to lease.
