Walmart sells former Sam’s Club in Lake Worth

The property could be redeveloped into an auto or RV dealership

TRD MIAMI /
Dec.December 03, 2019 02:30 PM
From left: Ben Bruner and David Emihovich of Katz & Associates with the Sam's Club at 7233 North Seacrest Boulevard (Credit: Google Maps)

From left: Ben Bruner and David Emihovich of Katz & Associates with the Sam’s Club at 7233 North Seacrest Boulevard (Credit: Google Maps)

A vacant former Sam’s Club in Lake Worth sold for $13 million and could be redeveloped into an auto dealership.

A company tied to real estate developer and aircraft industry investor Robert G. Fessler bought the 135,000-square-foot building from Sam’s East, owned by Walmart, for $96 per foot. The property at 7109 and 7233 North Seacrest Boulevard is just off of I-95.

Ben Bruner of Bruner Group represented the buyer in the deal. David Emihovich of Katz & Associates and Jim Sakonich of CBRE represented the seller.

The building, built in 1989, has been vacant for the past two years, according to Bruner. In January 2018, Walmart announced it would be closing 63 Sam’s Club stores across 24 states and Puerto Rico.

The property could be redeveloped into an auto dealership, an RV dealership, or a manufacturing or distribution facility. Bruer said the buyer was attracted to the property because it is one of the few free-standing fully air conditioned buildings that can accomodate warehouse users or auto or RV tenants.

Fessler is also a developer of high-end spec homes. In 2017, he was part of a group that sold a 1.5-acre Palm Beach estate at 101 Indian Road for $49 million.

Last year, Fessler sold a 72,000-square-foot warehouse at 2201 Fourth Avenue North in Lake Worth for $8.25 million. The site is now home to the Florida headquarters of Benchmark Games.


Related Articles

arrow_forward_ios
Riverstone Capital Group founder Jorge Portela and Shoppes of Forest Hill at 4316-4450 Forest Hill Boulevard (Credit: Google Maps)

Walmart-anchored shopping center in WPB sells for $20M

FCP’s Palm Beach County portfolio and Bruce Gago

FCP pays $86M for three Palm Beach County apartment communities

3055 North Miami Avenue and Alex Vadia (Credit: Midtown Opportunities, TAMZ)

Controversial Walmart site in Midtown Miami sells for $26M

Gold Standard of Care’s CEO Michael Verbitsky and 6026 Old Congress Road

Gold Standard of Care sells senior housing facility in Lake Worth

Savona Grand Apartments at 7045 Colony Club Drive, Greystar CEO Bob Faith

Apartment giant Greystar sells complex near Lake Worth for $48M

Riverbend Marketplace and Brett Chetek of the Chetek Group of Marcus & Millichap (Credit: LinkedIn and Gatlin Development Company)

Canadian investment group pays $39M for Fort Lauderdale shopping center

(Credit: iStock)

Money-losing golf courses can club the values of nearby homes

Apollo pays $20M for senior housing complex near Lake Worth

Apollo pays $20M for senior housing complex near Lake Worth

arrow_forward_ios