Publix is negotiating with a developer and the Delray Beach Community Redevelopment Agency to build a 25,000-square-foot store in the 600 block of West Atlantic Avenue. The CRA this month signed an agreement to sell 2.75 acres it owns to Pasadena Capital Inc. of Orlando for $2 million.
In recent years, Publix has moved toward owning (rather than renting) its real estate. The 25,000-square-foot store would be similar in size to Publix locations in downtown Lake Worth and at CityPlace in West Palm Beach.
“Buddha Sky Bar is the only three-story restaurant with views of Atlantic Avenue in Delray Beach, where restaurant space downtown commands a premium due to limited supply,” said Marc E. Strauss, a broker at Marcus & Millichap who’s listing the building.
Sky Bar is offering a sale-leaseback. It says it’ll sign a 10-year lease for the second and third floors and a one-year lease for the first floor.