Publics is pushing for a new store in Fort Lauderdale’s Lauderdale Beach neighborhood, buying the development site for $ 10 million.
Bond records show that 1.4 acres of mostly parking lots and an existing retail building were purchased at 2985 North Ocean Boulevard in two separate purchases.
In a deal, Publics bought two parking lots on 0.9 acres nearby and a retail building from Preste Corp for $ 7 million. Preste Corp bought a portion of the property in 1969 for 000 to 80,000 and the other part in 1975 for 000 to 100,000, according to property records.
In the second deal, Publicx acquired the remaining half acre, including parking, for $ 3 million from Royal Quality Homes of Florida and Ocean Reef Investments. Ocean Reef Investments bought the parking lot in April 2015 for 000 600,000 and then in June 2016 sold half of the ownership interest to Royal Quality Homes in Florida.
Lagland-based Publics, along with its CEO Todd Jones and chairman Kevin Murphy, announced plans to build a 29,000-square-foot store with roof parking during a restoration investigation in November. At the time the Ford Lauderdale Commission unanimously approved the realignment of a portion of the property from “Residential Multifamily High Rise / High Density” to the “Social Business District”.
The store is expected to open at the end of 2022.
Seller Preste Corporation Ford Lauderdale Internist Dr. Paul G. Affiliated with Presto, he ran for Boca Raton City Council in 2018. Ocean Reef Investments is a subsidiary of Karam Brothers Development and Architecture in Fort Lauderdale and is affiliated with Tolkien Adak, General Manager, Royal Quality Homes Florida Florida.
Nearby, other grocery stores are across the Oakland Park Boulevard Bridge, on the 3400 North Federal Highway west of the site; And a mile north of the Win-Dixie development site.
Publics is in expansion mode. It also plans to build a 30,000-square-foot supermarket with a dock in Hollywood at 3100 South Ocean Drive. This would be Publics’ second place with a ferry dock in Florida after one on the West Coast.
R.K. The centers bought the public-spaced veranda store in the garden in March for $ 17 million.