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BUYER: Publix Super Markets Inc., Lakeland
SELLER: D.D.R.M. P.B.C. LLC
PROPERTY: 36301 E. Lake Road, Palm Harbor
PRICE: $13.35 million
PREVIOUS PRICE: $5 million, July 2007
LAW FIRM ON DEED: Lowndes Drosdick Doster Kantor & Reed PA, Orlando
PLANS, DESCRIPTION: Lakeland-based grocery firm Publix Super Markets Inc. purchased the 77,596-square-foot Brooker Creek Shopping Center in Palm Harbor for $13.35 million.
The price equated to $172 per square foot.
The center is anchored by a 56,146-square-foot Publix store. Other tenants include Coaches Pizzeria & Restaurant, Pinch A Penny and Wasabi Japanese Restaurant.
At the time of the sale, it was 99% occupied and had a single vacancy. Built in 1994 the 16-space center occupies an 8.29-acre site.
“We felt it was a good investment opportunity for us,” says Shannon Patten, media and community relations for Publix. “We have no plans to make any changes. We own 20% of the shopping centers in which we operate. If it's a good opportunity for us from a business standpoint, and it makes sense for us and our shareholders, then that's what we're going to do.”
The grocery store chain operates more than 1,000 stores in five states.
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