A Publix subsidiary has bought Airpark Plaza at 5705 Northwest Seventh Street in Miami for $83.25 million, according to a deed filed this week.
The Lakeland, Florida-based supermarket operator acquired the retail center from Bethesda, Maryland-based First Washington Realty. Publix is the anchor tenant at the property.
The transaction adds another owned retail asset to Publix's real estate portfolio in a market where grocery-anchored centers remain a closely watched segment for investors and tenants. Control of the underlying property can give a retailer greater influence over leasing, operations and long-term redevelopment decisions.
Details on the center's size, tenant roster and financing were not disclosed in the deed information cited by Commercial Observer.
