Newgard Group Acquires West Palm Beach Dev Site For First Luxury Automotive Lifestyle Destination

PB Vaults Development LLC, an affiliate of Newgard Group’s commercial development division, has closed on the $10.5 million acquisition of a 2.6-acre property located at 2500 N. Florida Mango Road in West Palm Beach.

The property will become the inaugural location for a new luxury automotive ownership and lifestyle concept developed by Newgard Group. The platform’s name, strategic collaborations, and additional U.S. locations will be formally unveiled later this year.

Designed for discerning automobile enthusiasts, the project will feature a limited collection of 20 privately owned automotive studios that combine exceptional design, privacy, security, and hospitality within an exclusive membership-driven environment. Owners will enjoy thoughtfully curated spaces to showcase their collections while becoming part of a community built around a shared passion for automotive culture.

More than a place to house automobiles, the destination has been envisioned as an immersive lifestyle experience where members can gather, work, entertain, and connect. Planned amenities include wellness and fitness facilities, padel courts, coworking spaces, hospitality offerings, and immersive driving and racing experiences.

“For years I searched for a place that reflected the way passionate automobile enthusiasts truly enjoy their collections,” said Harvey Hernandez, Founder and CEO of Newgard Group. “We envisioned something far beyond traditional car storage—a destination centered around ownership, design, community, and unforgettable experiences. This acquisition represents the first step in bringing that vision to life, and we look forward to sharing much more about the platform in the months ahead.”

West Palm Beach was selected as the inaugural location because of its vibrant luxury market, exceptional accessibility, and growing community of automobile collectors. The project represents the first step in Newgard’s vision to develop a network of similar destinations in premier markets across the United States.

The platform also reflects Newgard’s continued expansion into experiential commercial real estate, combining luxury ownership, hospitality, wellness, recreation, and community into an entirely new category of destination-oriented development.

Sales at the West Palm location are expected to commence later this year, coinciding with the formal unveiling of the platform’s identity, strategic collaborations, and future expansion plans.