Invesco Sells Boca Raton Publix-Anchored Shopping Center for $90.3 Million

Invesco has completed the sale of Woodfield Plaza, a 142,893-square-foot shopping center in Boca Raton, Florida, for $90.3 million. The Dallas-based firm divested the property, anchored by a 42,112-square-foot Publix grocery store, after nearly 35 years of ownership. Urban Edge Properties, a New York-based company, acquired the asset located at 3003 West Yamato Road. This acquisition represents Urban Edge's initial foray into the South Florida market, as its existing portfolio is primarily concentrated in the Northeast.

The transaction highlights the sustained investor demand for grocery-anchored retail properties, which are valued for their stable rental income and consistent consumer traffic. Invesco originally purchased the 14.6-acre center in 1993 for $20.6 million. The sale excluded a Chevron gas station and two separate bank buildings leased to Citibank and Wells Fargo. This deal underscores the ongoing trend of investment in essential retail assets, offering predictable returns for property owners and lenders.