Former Carl's Furniture Building Purchased For $5.5 Million

NAI/Merin Hunter Codman, Inc. announced that it negotiated the sale of a big-box retail building in northern Palm Beach County, the former Carl’s Furniture, to Bass Pro Outdoor World for $5.5 million.
The 76,000 square-foot building is situated in a prime location on US 1, close to the waterfront, marinas, and some of Palm Beach County’s most affluent residential communities.
Bass Pro is the nation’s leading outdoor retailer and well known in Florida as a place to gear-up and learn skills for adventures in the great outdoors. The new Bass Pro site, in North Palm Beach, will be its first in Palm Beach County and adds to nine company locations in Florida. Details on plans for the new location have yet to be disclosed.
Carl’s Furniture, once among the top 100 furniture retailers in the US, filed for bankruptcy in 2011. The sale of its landmark building continues the trend of adaptive use of former big-box buildings.

“This is an ideal location for Bass Pro,” said Spencer Grossman, Director at NAI/Merin Hunter Codman. “Northern Palm Beach County has solid economic growth, high-income household formation, and a plethora of outdoor adventure opportunities.”

Grossman and Neil Merin, Chairman of NAI/Merin Hunter Codman, represented property ownership in the sale.
Bass Pro’s new building is situated on 5.75 acres at 11940 US 1. The seller of the property was Redus One LLC.

Added Merin, “The space needs of many large retailers has changed drastically over the last decade due to e-commerce and other dynamics. At NAI/Merin Hunter Codman, we continually seek out higher and better use of properties, which also translates into many benefits for local communities.”

The sale of another former Carl’s location, on Palm Beach Lakes Boulevard in West Palm Beach, was previously handled by NAI/Merin Hunter Codman as well. That building was converted into a charter school.
Bass Pro, headquartered in Springfield, Missouri, operates 88 retail stories and Tracker Marine Centers across America and Canada, which are visited by more than 116 million people annually. Bass Pro stores offer hunting, fishing, camping and other outdoor gear along with apparel, and many stores feature restaurants. The company’s Tracker Marine Group manufactures and sells boats for fishing and cruising.
 

 
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