Publix Buys Miami-Area Airpark Plaza for $83.3M, Expands South Florida Real Estate Push

Publix Super Markets purchased Airpark Plaza, a 204,740-square-foot retail center near Miami International Airport, for $83.3 million, continuing its strategy of acquiring shopping centers anchored by its stores. The seller was Bethesda, Maryland-based First Washington Realty. The deal for the seven single-story buildings at 5705 Northwest Seventh Street equals $407 per square foot. The property last sold in 2008 for $32.9 million, more than doubling in value over 18 years, according to records and a Vizzda report. The acquisition brings Publix's total spending on Florida shopping plazas over the past two years to approximately $409.8 million. In June, Publix bought the 71,190-square-foot Aberdeen Square in Boynton Beach for $24 million, following a $78 million purchase of the Fountains of Boynton in May. Led by CEO Kevin Murphy, Publix posted $63.2 billion in revenue last year and ranks No. 72 on the Fortune 500.