Off-market deal drew multiple competing bids before Publix exercised its Right of First Refusal, closing at a sub-6% cap rate amid strong demand for grocery-anchored retail
FORT LAUDERDALE, FL / ACCESS Newswire / July 14, 2026 / NX3 Commercial Group has announced the successful closing of Homestead Plaza, a Publix-anchored shopping center in Lehigh Acres, Florida, in a transaction valued at $22,000,000. The sale, which closed at a sub 6% capitalization rate, was led by Evan Whelan and Joshua Symonette, Co-Heads of National Net Lease at NX3 Commercial Group.
The transaction was structured as an off-market deal, a route the brokerage team says reflects the level of investor demand currently surrounding grocery-anchored retail. The offering ultimately drew multiple competing bids from prospective buyers before reaching a final sale price.
“This was a true off-market transaction that attracted multiple competing bids, a testament to the asset’s quality and the strength of demand for grocery-anchored retail in today’s market,” the NX3 team said in announcing the deal.
In a notable turn during the closing process, the winning offer triggered Publix’s contractual Right of First Refusal on the property. Publix exercised that right, adding Homestead Plaza to its expanding portfolio of Florida shopping centers.
“Our offer ultimately triggered Publix’s Right of First Refusal, and the iconic grocer exercised that right, adding another dominant center to their ever-growing Florida portfolio,” the team noted.
The deal underscores continued strength in grocery-anchored retail investment sales across Florida, a sector that has drawn sustained interest from both institutional and private capital buyers seeking stable, necessity-based tenancy. Homestead Plaza’s sub-6% cap rate reflects the pricing power currently commanded by well-located, Publix-anchored centers in high-growth Southwest Florida submarkets.
NX3 Commercial Group, based in Fort Lauderdale, continues to be active across net lease investment sales, grocery-anchored retail, and off-market retail dispositions throughout Florida and nationally.
About the Deal
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Property: Homestead Plaza, Publix-anchored shopping center
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Location: Lehigh Acres, Florida (Fort Myers market)
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Sale Price: $22,000,000
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Cap Rate: Sub 6%
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Brokerage: NX3 Commercial Group
Media Contact
Evan Whelan Co-Head of National Net Lease, NX3 Commercial Group 954-857-4762 | evan@nx3commercial.com
Joshua Symonette Co-Head of National Net Lease, NX3 Commercial Group 561-227-8404 | joshua@nx3commercial.com
SOURCE: NX3 Commercial Group LLC
View the original press release on ACCESS Newswire
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