Publix Super Markets buys Shoppes of Pelican Landing

BUYER: Real Sub LLC (principals: John Attaway, David Phillips, Jeffrey Chamberlain and William Crenshaw), Lakeland
SELLER: Pelican Landing of Georgia LLC
PROPERTY: 24600 and 24602 S. Tamiami Trail, Bonita Springs
PRICE: $12.59 million
PREVIOUS PRICE: $1.3 million, December 2005
LAW FIRM ON DEED: GrayRobinson PA, Tampa

PLANS, DESCRIPTION:
Lakeland-based Publix Super Markets Inc. purchased the 81,312-square-foot Shoppes of Pelican Landing retail center for $12.59 million.

The price equated to $155 per square foot. That figure is higher than the two-year average price per square foot for retail space ($144) in Southwest Florida, according to the CoStar Group.

Publix occupies a 37,887-square-foot anchor space in the center and an additional 1,625 square feet for its Publix Liquor. Other prominent tenants in the center include Tuesday Morning, Anytime Fitness, Our Lady of Light Thrift Store and Toast. The real estate research firm CoStar Group says the center was 96.8% occupied as of its last review of the property.

Constructed in 1997, the retail center is located south of the Coconut Point community.

Publix Super Markets owns the real estate for 187 of its stores, of which 98 are shopping centers.