Publix is set to acquire a downtown West Palm Beach development site from Related Ross, marking another step in the grocery chain’s expansion as a retail real estate investor in South Florida.
The company, headquartered in Lakeland, Florida and led by CEO Kevin Murphy, has agreed to purchase 2.3 acres from affiliates of Related Ross. Publix plans to build a store of about 40,000 square feet with covered parking on the site, according to the South Florida Business Journal.
Related Ross, founded by billionaire Steve Ross, assembled the properties at 210 North Sapodilla Avenue, 606–622 Second Street, 248–252 North Rosemary Avenue and 605–621 Banyan Boulevard in 2022 through deals totaling $15 million.
In addition to this acquisition, Publix is seeking to buy an additional 0.8 acres from the city of West Palm Beach for approximately $3.5 million. This would give Publix control over the entire block at 202–206 North Sapodilla Avenue.
City commissioners unanimously approved the proposed sale on first reading Monday. The final vote is scheduled for March 16. The agreement includes a requirement that Publix must operate a grocery store on the site for at least fifteen years.
Last year, commissioners declared these city-owned parcels as surplus property, which allowed them to be sold. They anticipate that construction will be completed by June 2028.
The planned store will be located across from another Related Ross project: Sapodilla—a mixed-income multifamily complex featuring 164 apartments and a three-story parking garage with space for 188 vehicles.
This move continues Publix’s recent strategy of acquiring retail development sites and shopping centers anchored by its stores throughout South Florida. In December last year, Publix purchased Polo Club Shops in Boca Raton for $83 million; since 2023 it has spent nearly $428 million acquiring one standalone store and eight shopping centers anchored by Publix locations across the region.
In October last year, Publix also bought Hammocks Town Center—a retail plaza spanning more than 207,000 square feet—in Miami-Dade County’s Kendall area for $71.9 million.
