Publix-Anchored Sarasota Retail Center Trades for $20.4M

WMG Development has sold the recently completed Shoppes at Palmer Ranch, a Publix-anchored retail center in Sarasota, to The Wilder Companies for $20.4 million. 

Colliers’ Brad Peterson, Whitaker Leonhardt, and Michael Brewster represented WMG. Don Jennewein of Colliers represented The Wilder Companies on the acquisition financing. Colliers also represented WMG Development in the individual sales of the Circle K and Fifth Third Bank out parcels to separate 1031 buyers for $3.35 million and $2.14 million, respectively.

The Shoppes at Palmer Ranch is a 65,417-square-foot shopping center anchored by Publix’s new store prototype, which includes a drive-thru pharmacy and Publix Liquors. The Property was 100 percent occupied at the time of sale.

WMG develops commercial real estate projects nationwide for various industry segments, with an enhanced focus on retail, healthcare, and restaurants. On its website, The Wilder Group says it currently has an over seven million-square-foot portfolio that includes 40+ properties in 10 states.

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