Don King may be closer to selling former fronton

Miami /
Dec.December 05, 2015 10:30 AM

Boxing promoter Don King may be closer to selling a former jai alai fronton in a town just north of West Palm Beach.

King, who has owned the 53-acre property in Mangonia Park since 1999, told the Palm Beach Post in October that he would not sell to a buyer who would convert the former fronton to a distribution center.

Victor Palacios, a West Palm Beach entrepreneur,  wants to turn the property into a mixed-use development with vocational and charter schools together with a sports facility, retail stores, restaurants and a hotel.

Palacios recently told town officials in Mangonia Park that King “is supporting the project 100 percent,” according to the Palm Beach Post. But Palacios said he hasn’t yet reached a deal with King to buy the former fronton, which the county has appraised at $7 million.

West Palm Beach developer Michael McCloskey made an unsuccessful attempt to acquire the former fronton from King and convert it to a distribution center. The property has been vacant since 1994.

Palacios would break ground in a year for his mixed-use redevelopment of the former fronton and complete the $127 million first phase in three years, and all five phases within seven years.

The Palm Beach Post reported that Magnonia Park Mayor William Albury told Palacios, “This is by far the best presentation and the best proposal we’ve ever heard. In terms of a partnership, you’ve got it.” [Palm Beach Post ] — Mike Seemuth


Related Articles

arrow_forward_ios
Charles Cohen and 2000 S Dixie Hwy, West Palm Beach (Getty, Google Maps)

Charles Cohen’s Carefree Theater redevelopment advances

Charles Cohen’s Carefree Theater redevelopment advances
Tony Robbins and 2951 Electronics Way, West Palm Beach (Getty, Google Maps)

Tony Robbins buys West Palm Beach warehouse for production studio

Tony Robbins buys West Palm Beach warehouse for production studio
Pebb’s Ian Weiner and 5544 Okeechobee Boulevard, West Palm Beach (Pebb Enterprises)

Pebb sells West Palm Tesla dealership for $13M

Pebb sells West Palm Tesla dealership for $13M
From left: Steve Bisciotti, Jim Davis with  Jim and John Arrigo, with 5901 Madison Avenue, Tamarac and 2250 North State Road 7, Margate (Getty, Arrigo Auto Group, Google Maps)

Investment firm tied to Baltimore Ravens owner buys South Florida car dealerships for $91M

Investment firm tied to Baltimore Ravens owner buys South Florida car dealerships for $91M
Kasperi Kapanen and 2603 Embassy Drive (Credit: Jeff Zelevansky/Getty Images)

Pittsburgh Penguins’ Kasperi Kapanen scores West Palm Beach home

Pittsburgh Penguins’ Kasperi Kapanen scores West Palm Beach home
827 South SR 7, Fort Lauderdale & 1200 South Congress Ave, West Palm Beach (Credit: Google Maps)

Off Lease Only sells two South Florida locations for $50M

Off Lease Only sells two South Florida locations for $50M
The Bristol (iStock)

Insurance exec sells Bristol condo in West Palm for $8M

Insurance exec sells Bristol condo in West Palm for $8M
750 Malibu Bay Drive, West Palm Beach, Jeremy Bronfman, and Matthew Rieger of HTG

Seagram scion pays $38M for West Palm affordable housing

Seagram scion pays $38M for West Palm affordable housing
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...