Cushman & Wakefield Brokers $8.3M Sale of Independent Living Development Site in Florida

PALM BEACH GARDENS, Fla. — Cushman & Wakefield has negotiated the sale of a 10.4-acre commercial site in Palm Beach Gardens. An affiliate of United Group of Companies acquired the property for $8.3 million with plans to develop an independent living community.

Christopher Thomson, Chris Metzger, Richard F. Etner Jr., Matthew G. McAllister, Mark L. Pateman and Tara England of Cushman & Wakefield represented the seller, Amara Temple Holding Corp. The company’s 17,084-square-foot Amara Shrine Center clubhouse currently occupies the site, which is near several major thruways and retail centers.

The Amara Shrine Center is moving its clubhouse to a new location. The buyer achieved a rezoning during the entitlement period to clear the way for the new independent living community.

“Infill sites offering development opportunity and exceptional access to the surrounding community, amenities and roadways are a rare commodity in the South Florida market,” notes Thomson.

“The property’s location in the heart of thriving Palm Beach Gardens with excellent area demographics attracted significant interest from multifamily residential, assisted living facility and independent living facility investors and developers,” adds Pateman.