As a landlord, Publix ultimately controls who its neighbors are. It’s unlikely that shoppers will ever see Jimmy John’s or any other sandwich shop in a Publix-owned center — the grocer won’t bring on board anyone who would compete with its Pub subs and deli offerings.
“They’re not like a group that’s looking to buy a center and fix it up and fill it up and make X profit from filling it up,” said Brian Bern, a senior director with Franklin Street in Tampa. “They’re a long-term holder, so from that standpoint, it definitely affords them the ability to be selective and take their time making decisions.”
Real estate observers anticipate that Publix will continue to snap up commercial real estate. As the grocer continues to grow its retail footprint — North Carolina and Virginia are major focuses, as is the Washington, D.C., metro area — it’s likely to become a force up and down the Eastern Seaboard.
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