Three West Palm Beach Auto Dealerships Sell For A Combined $21.1 Million
Three West Palm Beach auto dealership properties have changed hands for a combined $21.1 million
All three were sold by Myers Auto Group, which is managed by Stephen E. Myers Sr., Stephen E. Myers Jr. and Robert W. Simpson III.
In the largest transaction, Palm Beach Motor Cars Ltd. Inc. bought the Jaguar Palm Beach and Aston Martin Palm Beach dealerships at 915 S. Dixie Highway for $9.97 million. The buyer is managed by Robert W. Simpson Jr. and Mark D. Simpson, both of West Palm Beach. The 58,262-square-foot dealership was built in 1989 on 1.56 acres.
In another transaction, Land Rover Palm Beach LLC purchased the dealership at 7550 Okeechobee Blvd. for $8.1 million. The 34,301-square-foot dealership was built in 2004 on 4.61 acres. The sale included a vacant 2.58-acre lot adjacent to the dealership and a linear 0.23-acre strip of buffer land. The buyer is managed by Robert W. Simpson of Wellington.
In the third deal, the 34,421-square-foot auto dealership built in 2001 on a 0.79-acre lot at 420 Okeechobee Blvd. sold for $3.135 million to Palm Beach Motors Properties Inc., managed by Robert W. Simpson Jr. of West Palm Beach.