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Publix pays $83.25M for Miami’s Airpark Plaza shopping center
The 204,000-square-foot center sits on a 12.6-acre site south of Miami International Airport.
Publix Super Markets bought out its landlord for Airpark Plaza in Miami, paying $83.25 million for the 204,000-square-foot shopping center, according to ConnectCRE.
ConnectCRE reports that First Washington Realty was the seller. The outlet also noted that Airpark Plaza last traded for $36.82 million in 2008.
ConnectCRE said the deal reflects Publix’s approach of buying out landlords, which allows it to exert greater control over the shopping center, including physical improvements and the tenant mix.
The shopping center was built on a 12.6-acre site just south of Miami International Airport starting in 1971, and tenants include Burlington, TD Bank, First Watch, Burger King, and Domino’s.