Primerica buys, will redevelop Valrico Square

BUYER: Valrico Commons LLC, Tampa

SELLER: Valrico Partners LP dba Valrico Partners LP Ltd.

PROPERTY: 1901 E. Brandon Blvd., Valrico

PRICE: $6 million

PREVIOUS PRICE: $2.4 million, October 1992

LAW FIRM ON DEED: Miller Hester & Eisele PL, Orlando

PLANS, DESCRIPTION: Tampa-based real-estate development firm Primerica Developments Inc. purchased the 125,000-square-foot Valrico Square Shopping Center for $6 million.

The price equated to $48 per square foot.

The shopping center, at the southwest corner of Valrico Rand and State Road 60, included an empty anchor space, which previously housed a Winn-Dixie. The center currently features a Beall's Outlet, an office of the U.S. Social Security Administration and several smaller tenants.

Primerica Developments plans to demolish the empty anchor space in order to build a 54,000-square-foot Publix. The store could be open by September.

The developer plans to change the architectural look of the existing inline space to a Spanish revival style and also intends to improve the center's landscaping, lighting and parking lot. The revamped center will be named the Valrico Commons Shopping Center.

Cuhaci and Peterson of Orlando is performing the design work for facade improvements and the Publix.

The developer's affiliated company, Primerica Group One, will manage the center.<