Publix-anchored shopping center in Sarasota sold for $20.4 million


The Shoppes at Palmer Ranch is anchored by a more than 48,000-square-foot Publix supermarket.
The Shoppes at Palmer Ranch is anchored by a more than 48,000-square-foot Publix supermarket.
Image courtesy of Colliers
  • Manatee-Sarasota
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A fully leased shopping center in Palmer Ranch has been sold. The Shoppes at Palmer Ranch, off Honore Avenue and Central Sarasota Parkway, was acquired by Wilder, a Boston-based real estate firm, along with two unnamed long-term investors.

The sale price was $20.4 million, according to Sarasota County property records, which reports the deal closed Nov. 8.

Located in south Sarasota County, the shopping center was listed for sale in June, a little more than a year after it opened, in April 2023. Anchored by a new Publix store prototype, the 65,417-square-foot shopping center also includes a Publix drive-thru pharmacy, Publix Liquors, Sherwin-Williams, Wellness Animal Hospital, Fuji Sushi Steakhouse, Ann Volcano Nail Lounge and Dental Care at Palmer Ranch.

“The Shoppes at Palmer Ranch aligns perfectly with our acquisition strategy because it is a high-quality retail property situated in a growing area of one of Southwest Florida’s most affluent regions,” David Mallen, a principal at Wilder, says in a statement. 

More than 33,000 residents live within a 3-mile radius of the shopping center, with an average household income greater than $140,000, according to Wilder.

The company has one other property in its portfolio in Florida, according to its website: Daniels Marketplace in Fort Myers, anchored by Whole Foods.

Wilder has a “strong history of acquiring and repositioning properties,” the company says in a statement.

“Wilder is committed to collaborating with tenants and the community to ensure that The Shoppes at Palmer Ranch remains a cornerstone destination for the area,” Mallen says.

Brad Peterson of Colliers represented the seller, WMG Development, while Donald Jennewein of Colliers arranged financing for the acquisition.

 

author

Elizabeth King

Elizabeth is a business news reporter with the Business Observer, covering primarily Sarasota-Bradenton, in addition to other parts of the region. A graduate of Johns Hopkins University, she previously covered hyperlocal news in Maryland for Patch for 12 years. Now she lives in Sarasota County.

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