PANAMA CITY, FL / ACCESS Newswire / October 1, 2026 / NX3 Commercial Group, one of the most active NNN investment sales brokerages in the country, has brokered the $23,500,000 sale of SweetBay Town Center, a brand-new, Publix-anchored shopping center at 3213 W Hwy 390 in Panama City, Florida.

Luke Thomson, President of NX3 Commercial Group, represented the buyer on an exclusive basis and brokered the transaction. JLL represented the seller.

The sale is NX3 Commercial Group's second Publix transaction of 2026. The $23.5 million price equates to roughly $343 per square foot for the 68,550-square-foot center.

A New-Construction Publix Investment With 19 Years of Term

SweetBay Town Center was completed in 2025 and is 100% leased. Publix Super Markets opened its 48,387-square-foot store in January 2025, leaving more than 19 years of lease term remaining. Publix and its adjacent Publix Liquors store together account for about 74% of the center's leasable area and 53% of its income.

Publix pays a market rent of $15.00 per square foot. The grocer holds the No. 1 market share in Florida and ranks No. 72 on the Fortune 500, with more than 260,000 employees and about $59.7 billion in 2024 sales.

The center's shop space is leased to a service-oriented, largely national and regional tenant lineup:

• Publix Liquors
• Starbucks
• Fleet Feet
• The Little Gym
• LV Nail Spa
• Pita Street
• Pana Roma Pizza and Pasta
• Qwik Pack & Ship
• Jeremiah's Italian Ice
• St. Andrew Bay Land Co., which operates the leasing and sales center for the SweetBay community

The property carries a weighted average lease term (WALT) of more than 18 years. National and regional tenants generate 90% of its income, and 98% of tenancy is service-oriented, a mix that tends to resist e-commerce pressure.

Gateway Location in a Fast-Growing Panama City Submarket

SweetBay Town Center sits at the entrance to the SweetBay master-planned community, which is planned for more than 3,200 homes at build-out. The community includes The Residences at SweetBay (360 Class A apartments), a marina with 288 dry docks and 56 wet slips, and University Academy, a charter school where SweetBay residents receive priority enrollment.

The center has signalized access on Highway 390, which carries about 22,500 vehicles per day. Average household income within one mile is roughly $108,000, and the five-mile daytime population is 90,904.

Panama City is one of the fastest-growing metros in the Southeast. Nearby, $414 million is being invested in an 87-acre FSU medical campus and hospital scheduled to open in 2028. Multifamily units within five miles rose 83% over the past five years.

NX3 Commercial Group Closes Its Second Publix Sale of 2026

"SweetBay Town Center checked every box for my buyer: brand-new construction, a Publix anchor with nearly two decades of term, and a location at the front door of more than 3,200 planned homes," said Luke Thomson, President of NX3 Commercial Group. "Grocery-anchored retail with this kind of income security is in high demand, and we're proud to have closed our second Publix deal of the year."

About NX3 Commercial Group

NX3 Commercial Group is one of the most active NNN investment sales brokerages in the country. The firm advises private and institutional investors on the acquisition and disposition of net-leased and grocery-anchored retail properties nationwide. Luke Thomson serves as President. Robert Zahralban serves as head of national net lease.

SweetBay Town Center Sale at a Glance

• Sale price: $23,500,000
• Price per square foot: approximately $343
• Address: 3213 W Hwy 390, Panama City, FL 32405
• Property type: Publix-anchored neighborhood shopping center (NNN retail)
• Size: 68,550 square feet
• Year built: 2025 (new construction)
• Occupancy: 100%
• Anchor tenant: Publix Super Markets (48,387 SF), plus Publix Liquors (2,100 SF)
• Publix lease term remaining: 19+ years
• Weighted average lease term (WALT): 18+ years
• Traffic count: 22,500 vehicles per day on Highway 390
• Buyer's broker: Luke Thomson, President, NX3 Commercial Group
• Seller's broker: JLL

Frequently Asked Questions

What did SweetBay Town Center sell for?

SweetBay Town Center, a Publix-anchored shopping center in Panama City, Florida, sold for $23,500,000, or about $343 per square foot.

Who brokered the SweetBay Town Center sale?

Luke Thomson, President of NX3 Commercial Group, exclusively represented the buyer and brokered the deal. JLL exclusively represented the seller.

How large is SweetBay Town Center?

The center totals 68,550 square feet, including a 48,387-square-foot Publix and a 2,100-square-foot Publix Liquors. It was built in 2025 and is 100% leased.

How much lease term does Publix have at SweetBay Town Center?

Publix opened in January 2025 and has more than 19 years of lease term remaining. The center's weighted average lease term is over 18 years.

Which tenants are at SweetBay Town Center?

Tenants include Publix, Publix Liquors, Starbucks, Fleet Feet, The Little Gym, LV Nail Spa, Pita Street, Pana Roma Pizza and Pasta, Qwik Pack & Ship, Jeremiah's Italian Ice and St. Andrew Bay Land Co.

Who is NX3 Commercial Group?

NX3 Commercial Group is one of the most active NNN investment sales brokerages in the country. SweetBay Town Center is the firm's second Publix sale of 2026. NX3 Commercial Group has successfully closed over 2 Billion in NNN properties nationwide.

You can reach Luke Thomson at 860-921-4302 or email Luke@nx3commercial.com

SOURCE: NX3 Commercial Group LLC