Sedano’s Supermarkets has made a significant real estate move by acquiring the Miami-Dade retail center where it operates one of its stores. The beloved Hispanic grocery chain paid $32 million for the 107,034-square-foot open-air shopping center located at 8601 Bird Road, near the intersection with Southwest 87th Avenue and close to Tropical Park.
The transaction included the assumption of an existing $6.7 million loan from the previous owner, which was then increased by $33.4 million, bringing the total debt on the property to $40.1 million. Ocean Bank served as the lender for this financing arrangement. The 8.7-acre property had been owned by Hecht Bird Road Property, an affiliate of Amdur Management, since 2004.
In addition to the Sedano’s supermarket that anchors the shopping center, the property houses other well-known tenants including Denny’s restaurant and Office Depot. This acquisition reflects a growing trend among grocery store chains to purchase the retail centers they occupy rather than continue paying rent to landlords.
Sedano’s is not alone in this strategy. Competitor Publix has invested more than $400 million since 2023 in acquiring retail centers where its stores are located, including a recent $24 million purchase of a property near Boynton Beach in June. Similarly, Amazon-owned Whole Foods bought its Downtown Miami retail condo in 2024 for $21 million. This trend suggests that major grocery retailers see long-term value in owning their real estate rather than leasing it.
