The Real Deal Miami

Three West Palm car dealerships sell for $21M

December 09, 2013 11:15AM

915 South Dixie Highway

915 South Dixie Highway

Myers Auto Group has sold three West Palm Beach dealership sites for a combined $21.1 million.

The company, which is managed by Stephen Myers, Stephen Myers Jr. and Robert Simpson, found three different buyers for the transactions, Daily Business Review reported. In the most expensive deal, Myers sold the Jaguar Palm Beach and Aston Martin Palm Beach dealerships at 915 South Dixie Highway for nearly $10 million to Palm Beach Motor Cars. The 58,000-square-foot building was completed in 1989 on 1.6 acres.

Myers also sold a dealership at 7550 Okeechobee Boulevard for $8.1 million to Land Rover Palm Beach. In the third transaction, a 34,000-square-foot dealership at 420 Okeechobee Boulevard was sold for $3.1 million to Palm Beach Motors Properties. [Daily Business Review]Eric Kalis