Publix buys its real estate, neighbors in downtown St. Pete
By Breanne Williams
Tampa Bay Business Journal
Published: Sep 22, 2021

Publix Super Markets Inc. has acquired several properties near its Bell University Village shopping center in downtown St. Petersburg in a deal that cost the grocer $27.55 million.

Bell Partners Inc., a North Carolina-based asset management firm, sold four parcels to a corporate entity linked to Publix in early September, according to Pinellas County property records.

A spokesman for the grocer confirmed the acquisition to the Tampa Bay Business Journal but did not disclose any plans for the property.

“We acquired the St. Pete parcels of the University Village Publix,” Publix spokesman Brian West said. “It is a great opportunity for us to invest in the downtown St. Pete area, and we look forward to continuing to serve our customers.”

The parcels can be bundled into two separate locations: Publix's 33,903 square-foot store, its parking lot and the strip of businesses to the east edge of the shopping center including American Spirits & Fine Wines and Subway make up one area. Across the street, the grocer acquired the 14,762-square-foot CVS store, its parking lot and a small, tree-lined set of parking spaces near the drive-thru pharmacy exit.

All of the parcels are designated for commercial use.

The transaction is the latest move in what has been more than a decade’s worth of focus on property acquisition from Publix. Since 2008, the company has honed in on purchasing retail property across the Southeast. By buying up surrounding real estate, Publix is able to control who its neighbors are — and has the ability to keep competitive businesses out.