Marcus & Millichap Arranges Sale Of Publix-Anchored Retail Center In Palm Bay

Marcus & Millichap announced the sale of Palm Bay Center, a 135,049-square-foot Publix-anchored retail center in Palm Bay.

“This sale involved several moving parts, as Publix required a buyer willing to construct a brand-new store for them,” said Tarek Chbeir, senior director at Marcus & Millichap’s Orlando office. “To meet that need, we ran a transparent auction process to cast a wide net and identify the ideal buyer.”

Chbeir represented the seller, a private investor, in the transaction. He collaborated with Adam Sklaver and Philip Kates of Marcus & Millichap’s Commercial Property Auction Services to market the asset.

Palm Bay Center is located at 4707 Babcock Street NE, situated on 12.31 acres. Publix has operated at this location since 1978 and recently extended its lease through 2030. The center includes 598 parking spaces, is two miles from Interstate 95, and sits along a major retail corridor surrounded by national tenants including Walmart, CVS and Dollar General in Florida’s rapidly growing Space Coast region.