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Spartan

Publix for sale

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Speaking of... The Publix in the Vista is for sale. Saw it on Loopnet.

This one was in the Greenville section, though I woudl share it. I can't fathom as to why its for sale, but it is of concern. My thought is that the buliding that it is in is for sale since they still ahvent started those condos/apartments on the upper end of the building (so far as I know). Any thoughts?

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It is still up and doing fine. I am not completely sure but I think the the Columbia Development Corp owns it and are trying to cash out to do some other work. For some reason I think I heard that in the last month or so.

Wow, that's a surprise. It's still up and operational though, right?

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I seriously doubt that this is anything to be alarmed over. Publix most likely leases the space from a RE development company that actually owns the building. Legally, any new owner will have to honor the lease. The lease was probably for a MINUMUM of 5 years, probably longer.

The owner probably wants to just realize a profit and go to it's next venture. A RE developement company built an urban shopping center in Jacksonville, FL with Publix as it's anchor. They sold it after 2-3 years at a handsome profit. To the outside observer, nothing has changed. I was told that this particular Jacksonville Publix grosses the highest per square foot sales in the entire state. Considering Publix's dominance in the FL market, obviously the store is doing very well.

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I seriously doubt that this is anything to be alarmed over. Publix most likely leases the space from a RE development company that actually owns the building. Legally, any new owner will have to honor the lease. The lease was probably for a MINUMUM of 5 years, probably longer.

The owner probably wants to just realize a profit and go to it's next venture. A RE developement company built an urban shopping center in Jacksonville, FL with Publix as it's anchor. They sold it after 2-3 years at a handsome profit. To the outside observer, nothing has changed. I was told that this particular Jacksonville Publix grosses the highest per square foot sales in the entire state. Considering Publix's dominance in the FL market, obviously the store is doing very well.

My understanding is that's exactly the situation. Publix isn't going anywhere -- it's that portion of the building itself that's for sale.

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That is correct. The BUILDING is for sale, but Publix isn't going anywhere, they do too much business. I do all of my grocery chopping at the Vista Publix and it's always busy at lunchtime and evenings.

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