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.


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