Publix Expands Downtown West Palm Beach Footprint with Related Ross Site Acquisition

Publix is under contract to buy a 2.3 acre site from Related Ross in West Palm Beach, part of a strategic push to expand its South Florida real estate footprint.

By: AXL Media

Published: Mar 10, 2026, 7:24 AM EDT

Source: The Real Deal

The Transaction and Strategic Land Assemblage

The deal centers on a collection of properties at 210 North Sapodilla Avenue, 606–622 Second Street, 248–252 North Rosemary Avenue, and 605–621 Banyan Boulevard. These parcels were originally assembled by Related Ross in 2022 for a total of $15 million. To complete the block, Publix is also seeking to purchase an additional 0.8 acres of city owned land at 202–206 North Sapodilla Avenue for approximately $3.5 million. This acquisition would grant the grocer full control of the city block, facilitating a streamlined construction process for the large scale retail project.

Regulatory Approvals and Long-Term Commitments

West Palm Beach city commissioners have signaled strong support for the project, providing unanimous approval on the first reading of the land sale. A final vote is scheduled for March 16. As part of the agreement, the city has mandated a restrictive covenant requiring Publix to operate a grocery store at the location for a minimum of 15 years. This ensures long term food security and retail stability for downtown residents. If the final vote passes as expected, officials anticipate the new location will be completed and operational by June 2028.

Strategic Rationale in the South Florida Market

This acquisition is not an isolated event but rather a piece of a massive capital deployment strategy. Since 2023, Publix has spent nearly $428 million on South Florida real estate, including the $83 million purchase of Polo Club Shops in Boca Raton and the $71.9 million acquisition of Hammocks Town Center in Kendall. By transitioning from tenant to landlord, Publix is insulating itself from rising commercial rents while capturing the underlying appreciation of South Florida’s high value land. This "owner-occupier" model provides a significant competitive advantage over rivals who remain subject to traditional lease structures.