First Washington Realty Completes Sales of Two Publix-Anchored Shopping Centers to Publix Super Markets

Dispositions of Airpark Plaza and The Shoppes at Quail Roost Follow FWR’s Disposition of Harbour Pointe Village to Publix in 2024

BETHESDA, Md.--(BUSINESS WIRE)--First Washington Realty (“FWR”), a vertically integrated, institutional real estate investment firm focused on high-quality grocery-anchored and necessity-based shopping centers, today announced the sale of two fully leased, Publix-anchored shopping centers – Airpark Plaza and The Shoppes at Quail Roost – to Publix Super Markets, Inc (“Publix”). Both shopping centers are in Miami, Florida.

• Airpark Plaza is a 171,443-square-foot shopping center located near Miami International Airport. In addition to Publix, the center is anchored by Burlington and includes a mix of national, regional and local retailers. The transaction marks the largest sale of a suburban Publix-anchored shopping center in Miami-Dade County in the past 20 years.ⁱ
• The Shoppes at Quail Roost is a 73,550-square-foot neighborhood center serving the South Miami-Dade market. The center includes a mix of retail, service and medical tenants.

“Publix has been an excellent partner throughout our ownership, and whose familiarity with the properties and the communities they serve make for a natural transition,” said Amrit Chase, Senior Vice President of Investments at FWR.

Chase continued, “These sales reflect FWR’s commitment to not only managing our open-air retail portfolio, but also evaluating properties for acquisition, redevelopment, long-term ownership and disposition based on asset performance and market conditions. Airpark Plaza and The Shoppes at Quail Roost have reached a point of strong performance that made this the right transaction at the right time.”

The sales of Airpark Plaza and The Shoppes at Quail Roost follow FWR’s sale of Publix-anchored Harbour Pointe Village to Publix in July 2024.

About First Washington Realty

First Washington Realty (“FWR”) is a vertically integrated institutional real estate investment firm focused on high-quality grocery-anchored and necessity-based shopping centers. As an owner-operator, FWR brings together its discerning perspectives, deep operational expertise, and rigorous underwriting processes to execute investments in neighborhoods underpinned by strong demographics and high barriers to entry. With a national portfolio of 135 open-air properties totaling more than 21.4 million square feet across 20 states and Washington, D.C., FWR owns interests in and manages approximately $8.9 billion of assets. For more information, please visit www.firstwashingtonrealty.com.

ⁱ According to JLL