The iconic Panama Hattie’s restaurant and bar and adjacent parcels south of PGA Boulevard were sold to a developer for $10 million.
The deal brings plans to create a six-acre mixed-used development on the Intracoastal Waterway in Palm Beach Gardens closer to fruition, according to the Daily Business Review.
North Palm Beach-based Allied Capital & Development purchased the 1.2-acre restaurant site, located at 11511 Ellison Wilson Road. The deal gives Allied control of more than 6 acres and about 630 feet of Intracoastal Waterway frontage.
The sale was represented by Robert Hamman of Sperry Van Ness Florida Commercial Real Estate Advisors. [Daily Business Review] – Christopher Cameron