3.93-ACRE SITE ALONG NORTH FEDERAL HIGHWAY PURCHASED FOR AUTOMOTIVE RETAIL USE

Delray Beach, FL – June 23, 2011 – (RealEstateRama) — FL-PB Park Place, LLC sold the 3.93-acre lot along North Federal Highway for $1,450,000 to an undisclosed buyer. Located just north of Maroone Volkswagon at 2419-2605 N Federal Highway, the vacant lot was once slated for a mixed-use development project dubbed Parc Place North. In 2005, the site was approved the development of 45 residential units as well as office and retail components.