Publix Super Markets buys Lakewood Walk

BUYER: PSM Lakewood Walk LLC (Real Sub LLC), Lakeland
SELLER: NAP Lakewood Walk LLC
PROPERTY: 11161, 11205, 11215, 11141, 11135 and 11255 E. State Road 70, Bradenton
PRICE: $26.25 million
LAW FIRM ON DEED: Graydon Head & Ritchey LLP, Cincinnati

PLANS, DESCRIPTION:
Lakeland-based grocer Publix Super Markets purchased the 90,000-square-foot Lakewood Walk shopping center for $26.25 million.

The price equated to $292 per square foot. That figure is higher than the two-year average price per square foot for retail space ($138) in the Tampa Bay area, according to the CoStar Group.

Located at the corner of State Road 70 and Lakewood Ranch Boulevard, Lakewood Walk and its outparcels stretch across a total of 18.74 acres. The retail center is anchored by a 49,344-square-foot Publix supermarket and also houses SunTrust Bank, Coldwell Banker, Fifth Third Bank, Truman's Tap and Grill, Florida Blood Services and Wells Fargo Bank.

The seller, North American Properties, developed the main retail building in 2007 and the outparcels a year later. The Cincinnati-based real estate firm had not responded to a request for comment as of deadline.