Publix buys second area center, acquires Publix at Bee Ridge

BUYER: PSM Bee Ridge LLC (Real Sub LLC), Lakeland
SELLER: NAP Bee Ridge LLC
PROPERTY: 8300 Bee Ridge Road, Sarasota
PRICE: $8.4 million
PREVIOUS PRICE: $1.8 million, February 2005
LAW FIRM ON DEED: Graydon Head & Ritchey LLP, Cincinnati

PLANS, DESCRIPTION:
Lakeland-based grocer Publix Super Markets purchased the 47,800-square-foot Publix at Bee Ridge retail center for $8.4 million.

The price equated to $176 per square foot. That figure is higher than the two-year average price per square foot for retail space ($138) in the Tampa Bay area, according to the CoStar Group.