Publix Super Markets Inc. paid almost $2.3 million to assume the lease of the closed Lucky’s Market in Neptune Beach.
Lucky’s Market Parent Company LLC, as a successor to Lucky’s Market Operating Company LLC, of Lafayette, Colorado, sold the assignment and assumption agreement for the store lease to Publix on May 21.
The sale is part of a bankruptcy deal for Publix to pay $11.5 million for five Florida leased stores in Neptune Beach, Naples, Clermont, Orlando and Ormond Beach.
The Lucky’s Market organic and natural foods stores chain declared Chapter 11 bankruptcy reorganization in January 2020.
It announced winning bids in March 2020 for 23 of its closed stores and a distribution center totaling $29 million. The U.S. Bankruptcy Court for the District of Delaware confirmed an amended liquidation plan Dec. 31.
When Lucky’s Market declared Chapter 11, it had about 16 years remaining on a 20-year lease in Neptune Beach.
Publix agreed to take over the lease and extend the terms to April 30, 2040, with extension options.
Lucky’s operated two stores in Northeast Florida, in Neptune Beach and Oakleaf. Lucky’s did not announce a bid March 27, 2020, for the Oakleaf store at 8380 Merchants Way.
Publix has filed plans to open a store at the Neptune Beach address, which is almost next door to one of its existing supermarkets.
That means almost side-by-side Publix stores at 580 Atlantic Blvd., the former Lucky’s Market, and the larger existing store at 630 Atlantic Blvd.
The former Lucky’s Market is 29,810 square feet and within 500 feet of the existing 54,310-square-foot Publix.
The former Lucky’s store will be designed with some of Publix’s GreenWise Market features, including the coffee, beer and wine service for shoppers.
GreenWise is Publix’s natural and organics food brand.
“Our Neptune Publix will be a traditional Publix location, with an outdoor seating area, and yes, the POURS venue from our GreenWise Market location,” said Maria Brous, Publix director of communications, in an email Sept. 17.
“We are always looking to best serve our customers and communities. When business sustains more than one location in close proximity, we will take that opportunity to alleviate congestion in one location and offer easy access for customer convenience, at either location,” she said.
