Publix Supermarket Inc. has signed a 20-year lease to anchor the Palencia Commons shopping center in St. Augustine where a Food Lion had been.
Publix expects to start build out in early 2017 with the 45,600-square-foot space complete in 2018. The Lakeland-based company is finalizing plans and will soon apply for necessary permits.
As Publix joins the shopping center that is located just outside the Palencia neighborhood at 7458 North U.S. 1, plans are also unfolding that will see the center add an additional 16,800 square feet for more retail, and the center has signed two additional tenants — Workout Anytime, a 4,500-square-foot fitness facility, and Broad River Tavern, a 3,600-square-foot restaurant.
The shopping center is represented by Franklin Street‘s Katy Figg as its exclusive leasing broker. The center is managed by Cape Asset Management.
“Palencia residents and nearby retailers have expressed the need and desire to have another grocery store anchor here in the center,” said Figg, senior director of retail leasing. “Publix has been asked for by name for many years, and we’re proud to say we’ve been able to attract them to the center and take advantage of the growth in the Palencia area.”
The shopping center has 4,000-square feet of retail space available and another 8,700-square-feet available in the planned shop space and is 90 percent leased.
“We know that a new Publix store will attract more attention and interest from regional and national retailers who benefit from being near a Publix,” Figg said. “We expect this announcement to not only please area residents but all the retailers in the area, especially those who have been awaiting a new anchor tenant.”
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