Publix is set to acquire a downtown West Palm Beach development site from Related Ross, continuing its expansion as a significant retail real estate investor in South Florida.
The supermarket chain, based in Lakeland, Florida and led by CEO Kevin Murphy, has entered into a contract to purchase 2.3 acres from affiliates of Related Ross. The plan is to develop a store of about 40,000 square feet with covered parking, according to the South Florida Business Journal.
Related Ross, founded by billionaire Steve Ross, assembled the properties at 210 North Sapodilla Avenue, 606–622 Second Street, 248–252 North Rosemary Avenue and 605–621 Banyan Boulevard through several transactions totaling $15 million in 2022.
In addition to this acquisition, Publix aims to buy another 0.8 acres from the city of West Palm Beach for approximately $3.5 million. This would give Publix control over the entire block at 202–206 North Sapodilla Avenue.
City commissioners have unanimously approved the proposed sale on first reading and scheduled a final vote for March 16. The agreement requires Publix to operate a grocery store on the site for at least fifteen years under a restrictive covenant.
Last year, city commissioners declared these parcels surplus property to allow for their sale. They anticipate that construction will be completed by June 2028.
The planned downtown store will be located across from another Related Ross project where a mixed-income multifamily complex named Sapodilla is expected to bring 164 apartments and a three-story parking garage with space for 188 vehicles.
This move aligns with Publix’s broader strategy of acquiring retail development sites and shopping centers anchored by its stores throughout South Florida’s tri-county area. Since early 2023, Publix has spent nearly $428 million on one standalone store and eight shopping centers anchored by Publix locations. Notably, in December it purchased Polo Club Shops in Boca Raton for $83 million and in October acquired Hammocks Town Center—a large retail plaza anchored by one of its stores—for $71.9 million in Miami-Dade County’s Kendall neighborhood.
