The Real Deal Miami

Off Lease Only auto dealer boosts loan for mixed-use project

Plans include retail, office and restaurant space
Mark Fischer and his vacant lot in Palm Springs

Mark Fischer and his vacant lot in Palm Springs

Off Lease Only, a used car company based in South Florida, took out an additional $7 million in financing for a planned, mixed-use auto dealership, Palm Beach County records show.

Mark J. Fischer and Eileen C. Fischer of Off Lease Only are the borrowers for the mortgage, which covers the 15-acre site atĀ 1200 South Congress Avenue. The company acquired the Palm Springs property in May 2013 for $3 million, according to property records.

The owners broke ground on the 42,152-square-foot dealership in July, according to the dealer’s website. When completed, it will include a two-story, 21,592-square-foot office building, a 17,000-square-foot vehicle maintenance garage, a 2,000-square-foot restaurant and a 6,000-square-foot retail space.

Palm Beach Community Bank is the lender. Off Lease Only has locationsĀ in West Palm Beach, Opa-Locka, Lake Worth and Orlando.