Publix has shelled out $78 million to buy the Fountains of Boynton shopping center on the west side of Boynton Beach, giving the grocer full control of the plaza that already houses its own supermarket and several big-name tenants. The privately held chain now owns the land and buildings around its nearly 57,000-square-foot store, shifting the role of landlord from a European investment fund to an owner-operator. The deal tracks with a broader trend of supermarket chains taking direct control of the retail centers that anchor their stores.
The purchase closed at $78 million, or roughly $436 per square foot, for about 179,000 square feet of retail across roughly 21 acres, according to The Real Deal. The buyer of record is Real Sub LLC, a Publix subsidiary, and market sources say the transaction has been logged in county documents.
Records show the property was sold by an entity tied to Union Investment Real Estate and Boulder Group. Union Investment paid about $79.5 million for the plaza in 2021, according to transaction records. The firm also lists the Fountains of Boynton among the holdings of its UniImmo: Europa fund, a detail that appears in the fund's reporting and confirms the asset's prior placement in the German company's portfolio, according to Union Investment.
What's in the plaza
The Fountains of Boynton is anchored by a Publix that occupies roughly 56,893 square feet and a recently refreshed LA Fitness. The remaining inline space is filled with restaurants, an urgent-care clinic and personal-service shops. Broker marketing and property materials put the center at about 178,000 square feet and highlight a 2017 modernization that has helped keep vacancies low. Those listings also spell out the tenant mix, including Publix, LA Fitness, MD Now Urgent Care and a cluster of local eateries that generate steady weekday and weekend foot traffic.
Why Publix is buying
By owning the land and buildings outright, Publix gains more freedom to tweak the center over time. The grocer can reposition underperforming spaces, control exterior improvements and decide how outparcels are carved up or redeveloped. Connect CRE and other regional reporting note that Publix has repeatedly acquired centers that house its stores, a strategy that lets the company manage upgrades and the tenant roster directly.
Industry watchers say owner-operators such as grocery chains often pursue longer-term improvements, although small tenants can see leasing terms change when a corporate owner takes over. The 2026 sale price is roughly a $1.5 million markdown from the $79.5 million paid in 2021, according to transaction records and market reporting, a gap that reflects shifting values for retail real estate. Traded provides additional transaction details and context.
