NAI Miami's Johannsen Negotiates $24 Million Sale Of Marina Property

NAI Miami announced today that Christian J. Johannsen, CCIM, negotiated a $23,870,000 sale of PGA Marina Boating Center on behalf of the seller, PGA Marina, LTD.
The 7.53 acre property is located at 2385 PGA Boulevard in Palm Beach Gardens, and contains dry storage for 400+ boats, 16 fifty foot wet slips, 1,600 lineal feet of wharf dockage and 48,500 square feet of related marine commercial leased space. The purchaser was AMH PGA, LLC and was represented by Carolina Commercial LLC.
According to Johannsen, the transaction was exceptionally difficult to bring to a close as the property was not being actively marketed and there were buyer financing issues. Fortunately, the Seller and Purchaser became friends, which allowed the transactional difficulties to be overcome.
AMH plans on bringing the outstanding facility into the 21st century by offering new in/out storage for boats up to 45’, renovated commercial space, outdoor Tiki Bar and additional retail space, according to a release.
 

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