The most important piece of the Fountains at Palomar puzzle fell into place this past September when Publix Supermarket signed a lease agreement to occupy the new 55,701-square-foot retail building in Lexington, Kentucky.
The lease was recognized as the lease of the year for Lexington/Fayette in Kentucky as part of the 2023 CoStar Impact Awards, which were judged by real estate professionals familiar with the market.
Publix will also have an adjacent, 3,200-square-foot Publix Liquors to go along with the grocery store. The main building will come equipped with a drive-thru for Publix Pharmacy.
About the project: Developed as a joint venture between The Webb Companies and Greer Companies, construction on the new retail center began in June 2022, and it's expected to open in late 2024. The new center is located at the corner of Harrodsburg Road and Man o’ War Boulevard and the 16.5- acre site will include a Hyatt Place hotel and a fountain display.
What the judges said: "The lease with Publix on the south side of Lexington will make a great impact to the community with its location and drive-thru pharmacy within the new development of this demographic area," said Lucy Houp, assistant vice president of property marketing for NAI Isaac.
"This will change the landscape of South Lexington forever," said John Bunch, senior advisor for SVN Stone Commercial Real Estate.
They made it happen: Gordy Hoagland, partner and principal broker with White Oak Commercial Real Estate, Cheryl Johnston, principal broker of CMI Properties; Dudley Webb of The Webb Companies and Donald Vittitow of Greer Companies.