Publix Super Markets recently acquired the Ramblewood Square Shopping Center in Coral Springs for a total of $58.5 million. As the anchor tenant of the center, Publix has a history of purchasing properties it leases, and this trend can be seen in other locations such as Broward County and Jacksonville.
The retail center, which spans 157,914 square feet at 1201 to 1327 N. University Drive was sold by Apollo Global Management to Publix for $370 per square foot. This is significantly higher than its previous sale price of $21 million back in 2019.
In line with their strategy, Publix demolished their store on the property in 2022 and rebuilt it with additional space and features. The shopping center sits on a spacious15.1-acre site just north of Coral Square Mall that was originally developed in1990.
Ramblewood Square boasts several notable tenants including Men’s Warehouse,Aspen Dental,Ross Dress for Less,T-Mobile,Five Below,the UPS Store,and Wings Plus.This acquisition marks another successful move by Publix as they continue to expand their presence within Florida’s commercial real estate market.
