Publix’s Buying Spree

Supermarket chain Publix is on what appears to be a sudden buying spree. The purchase count is at four and could climb, reflecting the general desirability of owning grocery-anchored retail. Also for today: A noted New York developer has run into trouble with luxury condos in California.

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— Tom Acitelli, Deputy Editor

Publix Ups South Florida Shopping Spree to $140M

Shortly after buying two retail centers it anchors in Broward County, supermarket chain Publix has bought two more in neighboring Palm Beach County, bringing its total shopping spree in South Florida to $140.2 million, property records show. In the most recent, larger transaction, the Lakeland, Fla.-based grocer paid $36.2 million for Woods Walk Plaza, a 13-acre property at 9855 Lake Worth Road, next to the intersection with South State Road 7 near Wellington. Besides a 48,555-square-foot Publix, the 88,000-square-foot shopping mall is home to Original Brooklyn Water Bagel, Subway, Supercuts and State Farm Insurance. For the smaller property — a 78,405-square-foot mall at 11935 Southern Boulevard in Royal Palm Beach — Publix paid $21 million.

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Shvo’s Beverly Hills Condos For Sale After Bankruptcy Notice

The majority of the units at a luxury condo building in Beverly Hills are hitting the market after the building's financier posted a default notice on a nine-figure loan tied to the property. New York-based luxe developer Shvo, along with fellow owners Deutsche Finance and a gaggle of German pension funds, in August defaulted on roughly $200 million in debt tied to the Mandarin Oriental Residences Beverly Hills, a 54-unit condominium at 9200 Wilshire Boulevard. Although the owners had reached a refinancing deal with J.P. Morgan, a Shvo spokesperson told Bisnow, they instead chose to market 44 of the units, which had not yet been sold, along with roughly 6,000 square feet of retail space as a bulk sale. That sale will be overseen by an Adam Spies-led Newmark team, along with lender Acore Capital, the spokesperson said.

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