Marcus & Millichap Inc., a prominent commercial real estate brokerage firm, has successfully arranged the sale of the Palm Bay Center, a Publix-anchored retail complex in Palm Bay, Florida. The 135,049-square-foot center, located at 4707 Babcock Street NE, covers 12.31 acres and boasts 598 parking spaces. Publix, a key tenant since 1978, has extended its lease until 2030. The sale required a buyer committed to building a new store for Publix, prompting Marcus & Millichap to conduct a transparent auction process to find an ideal buyer. The retail center is strategically located along a major retail corridor near Interstate 95, surrounded by national tenants like Walmart, CVS, and Dollar General in Florida's Space Coast region.
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