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RJS buys Carl’s Plaza near Palm Beach Gardens, plans renovations

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Restaurants, retail shops, a fitness center and more is coming to the old Carl’s Plaza off Federeal Highway in Palm Beach Gardens. Bass Pro Shops just released a retail development site near Palm Beach Gardens.

Property records show an affiliate of the outdoor sporting goods retailer just sold Carl’s Plaza at 11940 US Highway 1 for $7 million. The company originally intended to build one of its World Wide Sportsman stores on the 6-acre site, but plans fell through.

Bass Pro Shops paid $5.5 million for the property in 2014, and won county commission approval shortly thereafter to build up to 70,600 square feet of retail on the site, as well as a covered area for boats.

The buyer, RJS Realty Group, will take over renovations of the former furniture store, according to a source close to the deal. The plaza spans about 22,135 square feet, meaning the deal breaks down to about $320 per square foot. It lies on the east side of U.S. 1, a little less than two miles north of PGA Boulevard.

Online marketing material shows the center will be renovated into a marketplace called Waterway Shops. The plans feature a number of retailers, restaurants and a fitness club that would serve as its anchor tenant. The site is near a number of office complexes, including the FPL corporate campus.

RJS has a portfolio of properties throughout the Southeast valued at about $3 billion, according to its website. President and founder Robert Sullivan was not immediately available to comment.

For more details from The Real Deal Miami, visit https://therealdeal.com/miami/2018/04/27/rjs-buys-carls-plaza-near-palm-beach-gardens-plans-renovations/