Highland Square Shopping Center, located on Dunn Avenue just west of I-95, was just purchased by American Commercial Realty Corp. for $22.7M. The center is anchored by Publix, and other notable retailers include Bealls Outlet, dd’s Discount and Family Dollar. The sale also included a freestanding CVS and Starbucks, which are located on outparcels of the center. The inline space totals 262,000 square feet (277,600 SF including the outparcels).
While not involved in this sale, the Colliers Investment Team has brokered the sale of 3 Publix anchored shopping centers in the last 12 months. Contact Scott Rogers or Ernie Saltmarsh to learn more.
Publix just announced plans to renovate another local area store. The Publix at St. Augustine Road, just north of I-295, is slated for a $550,000 renovation. Other recent renovations include the Publix at Harbour Place ($850K renovation proposed) and Intracoastal Center ($750K renovation proposed). Intracoastal Center will also be adding a Publix Liquor Store.
Publix Super Markets Inc. recently filed plans for an $850k renovation at their store in Harbour Place Shopping Center, which is located at the SWQ of Atlantic Boulevard and Hodges Boulevard. This comes on the heels of a recent announcement announcing plans for a $750k renovation of the Publix at Beach Boulevard and San Pablo Road.
The long awaited East San Marco project appears to be back on schedule- with construction set to begin late this summer. The project, which was first announced back in 2002, is estimated to cost about $60MM. It will feature 239 apartment units stacked on top of 46,000 SF of retail space. Publix will anchor the retail component, taking about 32,500 SF. The 4.33 acre property is located at the intersection of Atlantic Boulevard and Hendricks Avenue, in the heart of San Marco Square shopping and entertainment district. A JV between ArchCo (Atlanta based) and Bluerock (NY based) will buy the property from Regency Centers this summer, and then develop the property. Regency Centers will then purchase the retail component of the development and handle the commercial leasing and management of the project.
Dunkin Donuts and Ulta Cosmetics are both going to be opening up new locations on the ever growing SR-200/A1A corridor in Yulee. The stores will be located on outparcels to the Villages of Amelia Shopping Center, which is anchored by Publix, Kohls, Ross and T.J. Maxx, located at SR-200 (A1A) and Chester Road. Both stores are scheduled to open in 2016.
Colliers International Northeast Florida recently sold Island Walk Shopping Center in Fernandina Beach for $21.8M, anchored by Publix, Staples, Bealls and Bealls Outlet. The deal also included a newly constructed/freestanding Starbucks and Mattress One outparcel. Colliers represented both sides of the transaction- Scott Rogers represented the buyer, Phillips Edison & Co. (HQ’d in Cincinnati) and Robert Selton and Matt Entriken represented the seller, CF Properties (HQ’d in Miami). This is the second Publix anchored shopping center that the Colliers Investment Services Team has sold in the past few months. The team also just listed another Northeast Florida Publix anchored shopping center- contact Scott Rogers or Ernie Saltmarsh for more details.
Publix Super Markets, with 49 stores in the NE FL region, is currently at about $16.4M in its renovation of some 17 area stores in just the past two years. The latest is its Reedy Branch Commons store that will undergo a $900k renovation that was just applied for. Karen Brune Mathis has the mention of Publix’ tab so far in this article (under a different title).
Skinner Bros. Realty Co. announced plans to re-develop the 70k SF Moultrie Square Publix in St. Augustine and replace with with a larger and brand new Publix of 54k SF. They will also improve parking lot lighting, access and add an end-cap for a restaurant. The new center will be about 75.6k SF and will be complete in Q3 2016. Karen Brune Mathis of The Daily Record has the story.
Publix, Florida’s #1 grocer, hit another milestone this week, crossing the $1B mark for earnings in the first six months of 2015, after hitting the $30B mark in annual sales earlier this year. Earnings were up almost 15% from the same period in 2014 and sales were up 6.4% while same store sales were up 4.7%. Robert Trigaux of The Tampa Bay Times has the article here.
Ashley Gurbal Kritzer of The Tampa Bay Business Journal reports on the slide of Whole Foods and its competitors’ taking some market share along the way, including “the very proactive” Publix brand with its “hybrid stores” combining upscale items within a traditional grocery store, and its Aprons program that caters to its Millennial shoppers.