Loading
BUYER: Real Sub LLC (officers: John Attaway, David Phillips, Jeffrey Chamberlain and William Crenshaw), Lakeland
SELLER: HCTC2 LLC
PROPERTY: 5101 U.S. 98 S., Lakeland
PRICE: $1.89 million
PREVIOUS PRICE: $22.96 million, December 2010 (includes additional land)
PLANS, DESCRIPTION:
Lakeland-based grocer Publix Super Markets purchased a 1.01-acre parcel housing a 3,950-square-foot bank building for $1.89 million.
The land, which is leased to Wells Fargo, is an outparcel to the 95,622-square-foot, Publix-anchored Highland City Town Center. Publix purchased the main retail center in November for $16.5 million.
Wells Fargo has roughly 13 years remaining on its ground lease with four additional five-year renewal options.
“Today, we operate 1,097 stores across six states: Florida, Georgia, South Carolina, Alabama, Tennessee and North Carolina, and approximately 20% are owned by Publix,” Brian West, Publix spokesman, wrote in an email to the Business Observer. “We are fortunate to have no long-term debt and plenty of cash on hand for these types of investments.”
Your free article limit has been reached this month.
Subscribe now for unlimited digital access to our award-winning business news.
Join thousands of executives who rely on us for insights spanning Tampa Bay to Naples.
