The Real Deal Miami

Bass Pro parent grabs future North Palm Beach store site

Retailer gets property from Wells Fargo Bank at significant discount from prior loan

September 04, 2014 12:00PM

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Bass Pro Shops founder John Morris

Bass Pro Shops founder John Morris

Bass Pro Outdoor World picked up the site of a future North Palm Beach store location at a significant discount to its $10.4 million mortgage.

The retail chain acquired the 11940 U.S. Highway 1 property from Wells Fargo Bank for $5.5 million. The bank seized the site through an affiliate last year. Wells Fargo had foreclosed on a loan provided to Panattoni Properties.

A Bass Pro Shop is in the works for the 5.7-acre property, according to the South Florida Business Journal. The nearly 76,000-square-foot shopping center was previously the home of a Carl’s Furniture store that closed in 2010. [South Florida Business Journal]Eric Kalis

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