Publix Goes Shopping, Buys $57M Retail Center in West Palm Beach
JLL has closed the $56.5-million sale of River Bridge Centre, a 229,781-square-foot, community shopping center anchored by Publix in West Palm Beach, FL.
Danny Finkle, Eric Williams Kim Flores of JLL represented the seller, an affiliate of Apollo Global Management. Publix Super Markets, Inc., acquired the center.
River Bridge Centre opened in 1986 and was most recently renovated in 2005. The value-add, 86% occupied property is anchored by a high-volume Publix and is home a mix of national retailers that includes Ross Dress for Less, Crunch Fitness, Five Below, Ace Hardware, Chipotle, MD Now Urgent Care, Humana and Pizza Hut.
River Bridge Centre is positioned on 28.4 acres along Forest Hill Boulevard. in an infill location. The property has nine outparcels, two of which are included in the sale, that drive traffic to the center.
“Opportunities to acquire grocery-anchored retail centers in South Florida continue to be in high demand from investors,” said Finkle.
- ◦Sale/Acquisition