Publix is set to acquire a development site in downtown West Palm Beach from Related Ross, continuing its expansion as a retail real estate investor in South Florida.
The grocery chain, based in Lakeland, Florida and led by CEO Kevin Murphy, has entered into a contract to purchase 2.3 acres from affiliates of Related Ross. The company plans to develop a store of about 40,000 square feet with covered parking on the site, according to the South Florida Business Journal.
Related Ross, led by billionaire Steve Ross, assembled the properties at 210 North Sapodilla Avenue, 606–622 Second Street, 248–252 North Rosemary Avenue and 605–621 Banyan Boulevard through transactions totaling $15 million in 2022.
Publix also aims to buy an additional 0.8 acres from the city of West Palm Beach for approximately $3.5 million. This acquisition would give Publix control over the entire block at 202–206 North Sapodilla Avenue.
City commissioners unanimously approved the proposed sale on first reading Monday. The final vote is scheduled for March 16. The agreement includes a requirement that Publix operate a grocery store on the property for at least fifteen years.
Last year, city officials declared these parcels as surplus property, which allowed them to be sold. Commissioners anticipate that construction will be completed by June 2028.
The planned Publix store will be located across from another Related Ross project where a mixed-income multifamily complex called Sapodilla is being developed with 164 apartments and a three-story parking garage with space for 188 vehicles.
This transaction aligns with Publix’s broader strategy of acquiring retail sites and shopping centers throughout South Florida. In December, Publix purchased Polo Club Shops in Boca Raton for $83 million. Since 2023, this brings its investment in standalone stores and eight Publix-anchored centers in South Florida close to $428 million.
In October last year, Publix paid $71.9 million for Hammocks Town Center—a retail plaza spanning over 207,000 square feet—in Miami-Dade County’s Kendall area.
— Francisco Alvarado
