Publix buys Sawgrass Village Shopping Center

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The Sawgrass Village Shopping Center is under new ownership. It has been purchased by PSM Sawgrass LLC, which is affiliated with Publix Super Markets, the primary tenant of the shopping center. The deed was recorded with the St. Johns County Clerk of Courts office on Sept. 16.

The sale price is listed as $82 million. The 7-acre property has a $10.4 million taxable value, according to the county property assessor.

In July 2010, Massachusetts Mutual Life Insurance Co. foreclosed on the property. The owner was then listed as Sawgrass Village Shopping Center LLC.

The purchase includes three buildings, which house various businesses, especially Publix and CVS Pharmacy.

Publix was founded in 1930 in Winter Haven and today has 1,306 store locations in seven states, 838 in Florida. It also has 10 distribution centers, one on Jacksonville, and 10 manufacturing facilities. It is the largest employee-owned company in the United States, employing more than 230,000 people.

The purchase would bring to 370 the number of locations where Publix owns both the building and the land it is on. The remainder are either leased or located on land that is leased, according to the company’s 2021 annual report.

Retail sales last year came to $48 billion, a 7% increase over 2020, according to the company’s 2021 annual report.

PSM Sawgrass LLC is headquartered in Lakeland, Florida.

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