BUYER: Publix Super Markets Inc., Lakeland
SELLER: The New York Times Co.
PROPERTY: 801 Tamiami Trail and 2075 Browning St., Sarasota
PRICE: $6.3 million
LAW FIRM ON DEED: The Law Offices of George H. Mazzarantani PA
PLANS, DESCRIPTION: Publix Super Markets Inc. purchased the former Sarasota Herald-Tribune building on 3.68 acres fronting Tamiami Trail for $6.3 million.
The purchase price equated to $1.71 million per acre.
As the Review reported in its May 15 issue, Publix plans to demolish the building to develop a two-story 54,000-square-foot Publix supermarket. The new supermarket will feature ground floor parking connected to the second floor grocery through customer and cart escalators and large freight-sized elevators.
Tampa-based RMC Property Group, co-developer with Ram Development Co. of the nearby Publix-anchored mixed-use Broadway Promenade project, will develop the grocery store, but Publix Super Markets will own it.
At completion, Publix will close its existing 31,000-square-foot store in Ringling Shopping Center at 282 Shopping Ave. The store was originally opened in March of 1955 and is Publix's oldest operating location.
The new Tamiami Trail Publix is expected to open at the end of 2010.