Publix Pays $83.3 Million for Airpark Plaza Near Miami International Airport, Extending Its Shopping Center Buying Spree

Publix Super Markets has paid $83.3 million for Airpark Plaza, a 204,740-square-foot shopping center near Miami International Airport, in the latest of a long string of Florida shopping center purchases by the Lakeland-based grocer, according to property records reported by The Real Deal on Wednesday, Sept. 30. The deal works out to roughly $407 per square foot.

The plaza, at 5705 Northwest Seventh Street, consists of seven single-story buildings, with tenants that include Burlington and Alain's Design Furniture, according to the reports. The seller was an affiliate of Maryland-based First Washington Realty, The Real Deal reported.

The acquisition brings Publix's purchases of Florida shopping plazas over roughly the past two years to nearly $410 million, according to The Real Deal's tally. The grocer, the largest employee-owned company in the United States, has increasingly been buying the retail centers where its stores operate rather than leasing space from landlords.

The deal

Airpark Plaza sits near Miami International Airport, in a part of Miami-Dade County with a mix of commercial, logistics and residential uses. Centers in the area draw both nearby residents and the large daytime workforce employed in and around the airport.

The Real Deal reported that the purchase is part of a pattern of Publix buying shopping centers anchored by its stores. Commercial Observer, which also reported the sale, described it as another Miami plaza acquisition for the company.

According to the published reports, Bill Hernandez and Bryan Sereny of Douglas Elliman represented the seller, while Miltiadis Kastanis of Compass represented the buyer. Publix's real estate purchases typically come to light through county property records and trade press reports rather than corporate announcements.

The price of $83.3 million places Airpark Plaza among the larger neighborhood retail transactions in Miami-Dade County this year. With seven separate single-story buildings on the site, the property offers a range of storefront sizes, from large boxes suited to national chains like Burlington to smaller bays for local businesses, restaurants and service providers.

A two-year buying spree

The Airpark Plaza purchase continues an aggressive run of acquisitions across South Florida. In December 2025, Publix paid about $83 million for a shopping center in Boca Raton, according to The Real Deal. In October 2025, the company spent about $72 million on Hammocks Town Center in Miami-Dade County, Commercial Observer reported.

A year before that, in September 2024, Publix paid a combined $83 million for two shopping centers in Davie, in Broward County, according to The Real Deal. Bisnow's South Florida deal sheet in early September 2024 reported that Publix had dropped about $224 million on Florida shopping centers.

Taken together, the purchases show the grocer methodically acquiring the properties it anchors in some of Florida's most populous and fastest-growing markets. The table below lists several of the deals reported in recent coverage.

The strategy also reflects how valuable well-located land has become in South Florida. With little undeveloped land left east of the Everglades in Miami-Dade, Broward and Palm Beach counties, existing shopping centers on major roads are among the few places where retailers can secure long-term footholds in established neighborhoods. Owning those sites also preserves the option of future redevelopment.

Why a grocer buys its landlords out

For Publix, owning the shopping center offers several advantages. Owning the land removes the risk of rent increases or lease disputes at renewal time, gives the company control over the center's tenant mix, parking and appearance, and lets it plan store remodels or expansions without needing a landlord's approval.

The company also collects rent from the other tenants in the centers it buys. At Airpark Plaza, that includes national and local retailers such as Burlington and Alain's Design Furniture. Over time, that rental income can help offset the cost of the acquisition and provide a stable return on the company's cash.

Publix is in an unusually strong position to make such purchases. Because it is privately held by its employees and retirees rather than publicly traded, it does not face pressure from outside shareholders to return cash through stock buybacks, and it has historically carried little debt. That allows the company to deploy cash into long-term assets like real estate in the markets where it operates.

Background: many shopping center landlords in Florida are real estate investment trusts and private equity backed firms that buy and sell centers as part of larger portfolios. When a grocery anchor buys its own center, it removes that middleman. Some industry observers have noted that this can reduce the supply of grocery-anchored properties available to outside investors, which can push prices higher for the centers that remain on the market.

Grocery-anchored retail in demand

Publix is not the only buyer interested in grocery-anchored centers. Shopping plazas built around a supermarket have become one of the most sought-after segments of commercial real estate, because grocery stores draw frequent, repeat visits that also benefit neighboring tenants such as pharmacies, restaurants, banks and service businesses.

The segment has also proven resilient against e-commerce. While many enclosed malls have struggled, open-air neighborhood centers anchored by a grocer have generally kept high occupancy, particularly in Florida, where steady population growth has driven demand for everyday retail.

Other recent Florida deals illustrate that appetite. Earlier in September, Nuveen Real Estate sold a Publix-anchored shopping center in Palm Beach Gardens for about $67 million, according to The Real Deal. In the Panhandle, a Publix-anchored center in Fort Walton Beach, The Shoppes at Paradise Pointe, sold for $8.4 million in a deal brokered by TSCG, according to Shopping Center Business.

Investor interest in grocery-anchored centers has also been supported by Florida's population growth. Every new subdivision and apartment complex creates demand for nearby groceries, prescriptions and everyday services, and supermarket chains, including Publix, have been opening new stores in growing suburbs from Southwest Florida to Central Florida and the Jacksonville area.

Background: Florida's hometown grocer

Publix was founded in 1930 in Winter Haven by George Jenkins and is now headquartered in Lakeland, in Polk County. The chain has grown to more than 1,300 stores across Florida and several other Southeastern states, with Florida remaining its largest market by far.

The company is led by President and Chief Executive Kevin Murphy. Publix is owned largely by its current and former employees, who receive stock through a retirement plan and purchase programs, and the company has regularly appeared on national lists of top employers.

In South Florida, Publix competes with a growing field of grocers, including national chains and discount and specialty operators that have expanded across Miami-Dade, Broward and Palm Beach counties. Owning more of its real estate gives Publix a degree of stability as competition for prime retail locations intensifies.

Publix stores are known for features such as their deli counters, bakery and the chain's widely recognized sub sandwiches, and the company has built a strong brand loyalty among Florida shoppers. That brand strength makes a Publix-anchored center an attractive property for other tenants, who benefit from the steady flow of customers the grocer draws throughout the week.

What it means for Miami-Dade

For shoppers and tenants at Airpark Plaza, a change in ownership typically has little immediate visible effect. Existing leases generally remain in place after a sale, and Publix has not announced any redevelopment plans for the property.

For the broader Miami-Dade commercial real estate market, the deal is another data point showing strong pricing for well-located retail centers. At roughly $407 per square foot, the sale reflects the value investors and owner-users place on neighborhood retail in dense, supply-constrained areas close to major employment centers like Miami International Airport.

The purchase also adds to the property tax rolls a high-value transaction that county appraisers will weigh in future assessments, at a time when property taxes are a significant topic of public debate across Florida.

For neighboring businesses, a grocer-owner can also bring longer-term stability. Because Publix plans its stores over decades, it has an incentive to keep the surrounding center well maintained and fully leased, which can benefit smaller tenants who depend on foot traffic from grocery shoppers.

Location also matters. Airpark Plaza sits along Northwest Seventh Street in an area shaped by the airport's cargo and passenger traffic, close to major roads used by commuters and freight carriers alike. Retail centers in such corridors serve a mix of shoppers that ranges from nearby families to airport workers, delivery drivers and travelers, which helps keep storefronts busy across the day and the week.

What's next

Publix has shown no sign of slowing its real estate acquisitions, and industry observers expect the grocer to continue buying centers it anchors as they come up for sale, particularly in South Florida and other high-growth parts of the state.

The company is scheduled to release its third-quarter financial results later this fall, which typically include figures on sales, earnings and the value of its investments. Those reports could offer more insight into how much capital Publix is putting into real estate.

In the meantime, more deals are likely to surface the same way this one did: through county property records rather than corporate announcements, as Florida's largest grocer quietly builds its portfolio of the shopping centers its customers visit every week.

Brokers and investors in South Florida's retail market will also be watching whether other anchor-owned deals follow, and whether Publix extends its buying beyond South Florida into fast-growing regions such as Tampa Bay, Central Florida and Southwest Florida, where the company already operates hundreds of stores and continues to open new locations in expanding suburbs.