Publix signed an NNN-lease for a larger space within a grocery-anchored center called the Shoppes at St. Lucie West. The newly constructed 54,965-s.f. standalone unit that opened in April offers an additional 7,000 s.f. of space than the retailer’s previous unit at the center. The supermarket needed a larger sized space due to increased demand, and because the previous store was more than 25 years old. Publix received special permission from the Port St. Lucie City Council to provide a drive-thru pharmacy, despite concerns about increased traffic. The owner agreed to install a new traffic signal near the entrance in order to help mitigate traffic congestion.
Tenant: Publix
Location: Port St. Lucie, Fla.
Square Footage: 54,965 s.f.
Property Type: Grocery-Anchored Outdoor Center
Developer/Owner: Hampshire Companies and Redfearn Capital
The new Publix is the first tenant in the center’s Phase III development plan, which expects to add an additional 70,000 s.f. of retail space. The center houses other high-profile big-box tenants, such as LA Fitness, Burlington and HomeGoods. The strip mall has an average daytime population of 53,264 within a three-mile radius. Port St. Lucie, which is situated about halfway between Miami and Orlando, has experienced a recent increase in population, up 2.34% from the previous year. The former Publix unit will be split into three different tenants; the first tenant signed is a Bealls Outlet/Home Centric combo store that will occupy 28,000 s.f. of the 48,000-s.f. empty space.
Property Representation: Katz & Associates: 1900 Corporate Blvd. N.W., Suite 450, Boca Raton, FL 33431.
Jon Cashion, Principal, (561) 869-4342;
Daniel Solomon, Principal, (561) 869-4351. danielsolomon@katzretail.com
