Home Depot buys shuttered Sports Authority site in Jupiter

Sports Authority closed its doors in 2016 and put 320 store leases up for auction

Sep.September 06, 2018 03:45 PM

Home Depot and 1560 West Indiantown Road

Home Depot just paid $8.1 million for a former Sports Authority site in Jupiter, with plans to demolish the 38,000-square-foot building and expand its existing Home Depot store next door.

The 3-acre site at 1560 West Indiantown Road traded hands for about $210 per square foot. The home improvement chain owns the adjacent 103,400-square-foot store at 1694 West Indiantown Road and will expand its space, according to the Palm Beach Post.

Records show an entity tied to Kairos Investment Partners bought the former Sports Authority property last year for $4.75 million. Sports Authority closed its doors in 2016, after the debt-strapped sporting goods retailer filed for Chapter 11 bankruptcy and put 320 store leases up for auction – including this property.

The deal is part of a larger trend of investors buying shuttered big-box retail sites to be repurposed. Just this month, Chevy dealer Arnaldo Bomnin paid $25 million for the former Toys “R” Us building on U.S. 1 near Dadeland Mall. In April, Turnberry Associates and LeFrak picked up an 11.5-acre Costco site for $17 million to add to their $4 billion SoLē Mia mixed-use project.

Related Articles

Jay Parker and a rendering of CocoWalk

Douglas Elliman, Bluemercury among new tenants at CocoWalk

Brickell City Centre (Credit: Wikipedia)

A three-story mini-golf is coming to Brickell City Centre

Harbourside Place in Jupiter

More EB-5 investors allege fraud at Jupiter development

Illustrated Properties acquires Jupiter Hills Village Realty

Illustrated Properties acquires Jupiter Hills Village Realty

Dan A. Colussy and 161 Bears Club Drive

Former Pan Am exec sells home in Bear’s Club for $10M

The property at 3101 PGA Boulevard (Credit: Google Maps)

Sears sues landlord and city over blocked sublease at Palm Beach Gardens mall

2401 West Atlantic Boulevard, Nightingale’s Elie Schwartz and Simon Singer and David Egozi of JDM Realty Group (Credit: Google Maps)

GDF Properties scores a retail center in Pompano Beach

Rendering of Life Time’s resort at The Falls

Luxury athletic resort to take over Bloomingdale’s space at The Falls