G. Robert Sheetz, founder of his eponymous convenience store chain, sold a waterfront spec mansion in Boca Raton’s Royal Palm Yacht & Country Club for $25.9 million.
Records show Sheetz sold the house at 415 East Alexander Palm Road to Source Energy 111 Florida Land Trust, with local attorney Tasha Dickinson signing on behalf of the buyer. The true buyer is hidden.
David Roberts of Royal Palm Properties, the top agent in The Real Deal’s 2023 Palm Beach County broker ranking, represented both the buyer and the seller in the deal.
Sheetz founded his convenience store chain in 1952 in Altoon, Pennsylvania. Today, Sheetz, Inc. has more than 500 stores across Pennsylvania, Ohio, Virginia, West Virginia, Maryland and North Carolina. In 2015, Forbes estimated the family’s net worth at $1.9 billion. Sheetz owns another Royal Palm Yacht & Country Club home he bought for $6 million in 2020, records show.
Sheetz bought the half-acre East Alexander Palm Road property for $4.5 million in 2019, records show. He completed the 10,700-square-foot waterfront mansion last year. It has six bedrooms, eight bathrooms, one half-bathroom, a pool and a dock, according to property records. It also has a 900-bottle wine room, the listing shows.
Sheetz listed it for $29 million in October, Redfin shows. While it’s among Boca Raton’s priciest sales in recent years, it falls short of the $29 million record set in February. Oleg Movchan, CEO of Chicago-based Enfusion, sold that waterfront estate to an unknown buyer, topping the previous $28 million Boca Raton price record set last year.
Other recent luxury deals in Boca Raton include Canadian car dealer Kapil Dilawari’s $16.4 million purchase of a spec mansion this month. Last month, HomeBridge CEO Peter R. Norden sold a spec mansion for $16.9 million.