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Publix Buys Boynton Beach Retail Center
As has been the case with numerous retail centers where Publix is located, the company has bought the entire shopping center. The South Florida Business Journal reports that Publix Super Markets bought out its landlord at the Fountains of Boynton Shopping Center west of Boynton Beach for $78 million. Publix often buys out its landlords, giving the grocery chain greater control of the shopping center, including physical improvements and the tenant mix.
The 178,726-square-foot retail center on Boynton Beach Blvd. was sold by Boulder Group and Union Investment Real Estate. The price worked out to $436 per square foot.
It last traded for $79.5 million in 2021.
Fountains of Boynton was built on the 20.9-acre site between 1995 and 2020. It’s anchored by the 56,893-square-foot Publix. Other tenants include LA Fitness, Oyako Sushi, Duffy’s Sports Grill, Hand & Stone Massage, and MD Now Urgent Care.
