Harley-Davidson building in WPB sells for $7.5M
Sale was an off-market deal by RKF and Brightway Properties
December 07, 2015 04:35PMBy Ina Cordle
Harley-Davidson’s West Palm Beach showroom has traded hands for $7.5 million.
The property, at 2955 45th Street in West Palm Beach, includes a 26,048-square-foot building on 2.3135 acres of land. The building’s sole tenant is Harley-Davidson of Palm Beach, which has occupied the space for the past 20 years and has just re-signed a 20-year lease, according to RKF, which arranged the sale on behalf of the sellers.
RKF Senior Director Benjamin Mandell and Associate PJ Brissette represented the sellers. Public records show the entities as 2955 Forty Fifth Street, 2955 Harley Partners LLC and Northpoint 45th LLC, which are owned by a group of investors based in Nashville.
Gaston Miculitzki of Brightway Properties represented the buyer, Awainer LLC. Florida corporate records show the entity’s managing member as Ariel Wainer, who led a group of investors from Latin America, Mexico, Argentina, Chile and Brazil, Miculitzki said.
RKF had approached him with the off-market deal, he said.
“Ben [Mandell] brought it to me, and I brought it to a group of clients that I have, and they always go for a deal that has a national tenant inside,” Miculitzki told The Real Deal. “I offered it to them, and they liked it, and they moved forward.” The contract was signed in a day.
The sellers had previously purchased the property in 2004 for $5.8 million, RKF said.
The sale marks the second related to Harley-Davidson in South Florida this year. The site of the former Harley-Davidson headquarters, at 2871 North Federal Highway in Fort Lauderdale, traded hands in May for $4.8 million.
RKF said the latest sale represented its Miami team’s 13th sale this year, totaling more than $300 million in value.
Most recently, the firm represented TriStar Capital in its $13 million sale of 3300 North Miami Avenue in Midtown Miami to buyer Block Capital Group, also represented by Miculitzki. Previously, RKF arranged the $23.95 million acquisition of 45 Northeast 39th Street by Redsky Capital and JZ Capital Partners; the $12 million sale of 232-266 Northwest 26th Street, also known as the Wynwood Doors, to Goldman Properties; the $65 million acquisition of Atlas Plaza by TriStar Capital and RFR Holdings; and the $13 million sale of 2605-2637 North Miami Avenue to MGC Development Corp.
Source: The Real Deal