Publix-anchored shopping center in Sarasota sold for $20.4 million

A fully leased shopping center in Palmer Ranch has been sold. The Shoppes at Palmer Ranch, off Honore Avenue and Central Sarasota Parkway, was acquired by Wilder, a Boston-based real estate firm, along with two unnamed long-term investors.

The sale price was $20.4 million, according to Sarasota County property records, which reports the deal closed Nov. 8.

Located in south Sarasota County, the shopping center was listed for sale in June, a little more than a year after it opened, in April 2023. Anchored by a new Publix store prototype, the 65,417-square-foot shopping center also includes a Publix drive-thru pharmacy, Publix Liquors, Sherwin-Williams, Wellness Animal Hospital, Fuji Sushi Steakhouse, Ann Volcano Nail Lounge and Dental Care at Palmer Ranch.

“The Shoppes at Palmer Ranch aligns perfectly with our acquisition strategy because it is a high-quality retail property situated in a growing area of one of Southwest Florida’s most affluent regions,” David Mallen, a principal at Wilder, says in a statement. 

More than 33,000 residents live within a 3-mile radius of the shopping center, with an average household income greater than $140,000, according to Wilder.

The company has one other property in its portfolio in Florida, according to its website: Daniels Marketplace in Fort Myers, anchored by Whole Foods.

Wilder has a “strong history of acquiring and repositioning properties,” the company says in a statement.

“Wilder is committed to collaborating with tenants and the community to ensure that The Shoppes at Palmer Ranch remains a cornerstone destination for the area,” Mallen says.

Brad Peterson of Colliers represented the seller, WMG Development, while Donald Jennewein of Colliers arranged financing for the acquisition.