Publix Buys Airpark Plaza Near MIA for $83.25M
Publix paid $83.25 million, or about $407 per square foot, for the 204,740-square-foot Airpark Plaza retail center at 5705 NW Seventh Street in Miami.
Publix Super Markets acquired Airpark Plaza, a 204,740-square-foot retail center at 5705 Northwest Seventh Street near Miami International Airport, for $83.25 million, or about $407 per square foot. The single-story center sits on 12.6 acres across three parcels.
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The property was fully leased at sale. Publix anchors the center alongside Burlington, TD Bank, First Watch and The UPS Store. It includes 587 parking spaces and was built starting in 1971.
The price more than doubles the property's last trade: $36.8 million in 2008. Seller First Washington Realty disposed of two Publix-anchored Miami centers in the same period, the other being The Shoppes at Quail Roost.
The deal continues Publix's strategy of buying out its landlords to control the centers it anchors, giving it direct ownership of its airport-area location.
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Project File
- Address
- 5705 Northwest Seventh Street, Miami, FL 33126
- Floors
- 1
- Sq Ft
- 204,740
The Project File tracks every fact, change, company, and article we have on this development, completed as of our latest research.
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