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Kevin Murphy Of Publix Acquires Retail Property From City National Bank Of Florida For $25M

Property Image
SOLD
$25,000,000

Florida

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Retail36,822 SF
Sold 03/19/2025
the dealdetailscomps
Property Image
SOLD

Kevin Murphy Of Publix Acquires Retail Property From City National Bank Of Florida For $25M

2519 East Sunrise Boulevard

See Similar Deals
Retail36,822 SF
Sold 03/19/2025
the dealdetailscomps

Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$678
Total Square Footage:36,822 SF
Transaction Type:Sale

The property involved in this transaction is a retail asset located at 2519 East Sunrise Boulevard in Fort Lauderdale. The sale was executed on March 19, 2025, and the price for the property was $25,000,000. The asset encompasses a total square footage of 36,822.0.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $25,000,000.00
  • Buyer: Kevin Murphy - Publix
  • Seller: City National Bank of Florida
  • Market: Fort Lauderdale
  • Square Footage: 36,822.0

This transaction featured Kevin Murphy representing Publix as the buyer, while the seller was City National Bank of Florida. The deal highlights the engagement of prominent parties in the retail market within the region.

Players

P
Publix
BUYER

Details

SOLD
IMAGE: Kevin Murphy DATE: 03/19/2025 ADDRESS: 2501-2519 East Sunrise Boulevard MARKET: Fort Lauderdale ASSET TYPE: Retail ~ ACRES: 2.5 BUYER: Kevin Murphy - Publix (@Publix) SELLER: City National Bank of Florida trust(@CityNationalBankofFlorida) SALE PRICE: $25,000,000 SF: 36,822 ~ PPSF: $679 NOTE: Publix paid $25M for a Fort Lauderdale store near Galleria Mall, adding to its $273M spree on standalone supermarkets and shopping centers where its an anchor tenant since last year. The 36,822-sf property, sold by a City National Bank of Florida trust, traded for $678 psf and includes a Starbucks outparcel.

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Net Operating Income (NOI)

$1,333,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$88,819.73
Cash-on-Cash Return-1.27%
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