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Woolbright Inks Deal to Spend $22M on Two More Publix Shopping Centers

MIAMI-The Boca Raton, FL-based real estate investment company has bought the 135,000-sf Village Square at Golf in Boynton Beach and the 85,000-sf Village Square at Pembroke in Pembroke Pines. The company plans to pursue additional centers anchored by Publix.

By Melissa Bogdany | Updated on November 05, 2002

MIAMI-Woolbright Development Inc., a real estate investment company based in Boca Raton, has signed contracts to purchase two South Florida shopping centers with Publix as the anchor tenant for a total of approximately $22 million. These are the latest deals in a strategy to buy Publix shopping centers, and more such purchases are planned throughout Florida, Soraya Tyriver, a director with Woolbright Development Inc., tells GlobeSt.com.

The two new buys are Village Square at Golf in Boynton Beach and Village Square at Pembroke in Pembroke Pines. The seller of Village Square at Golf was Cartagena Holding Co. of Miami. That center sold for about $13.5 million. This 135,000-sf, Publix-anchored shopping center is located on the northeast corner of Military Trail and Woolbright Road. The 19-year-old center is 95%-occupied. Its other major tenants are First Union, Bank of America and Lifestyle Design Furniture.

Aruba/Pembroke Investments of Miami sold Village Square at Pembroke for approximately $8.5 million. This 85,000-sf center, located on the southeast corner of Taft Street and Hiatus Road, is also anchored by Publix. This 23-year-old center is 99%-occupied. Other tenants there include McDonald’s and Bank of America.

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