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An Historic Waterfront Gem Reimagined: The Buccaneer Returns to Singer Island

A Landmark Revival with Commercial Real Estate Impact

The recent grand reopening of the Buccaneer Waterfront Bar & Grill on Singer Island marks more than the return of a beloved local restaurant — it’s a key development in the commercial real estate revitalization of Palm Beach County. Closed since 2020, the Buccaneer has been completely reimagined under the ownership of Sharfi Holdings Inc., which purchased the property in 2021. Their investment reflects a growing trend: restoring iconic spaces to bring both historic value and economic vitality back to the community.

Strategic Location: Real Estate Worth Reviving

Situated on the Intracoastal Waterway at 383 Blue Heron Blvd, this site has long held prime value thanks to its waterfront access and location just before the bridge to the beach. The Buccaneer’s transformation taps into the increasing demand for experiential dining in high-traffic tourist and local hotspots. From a real estate standpoint, the property’s revival enhances the surrounding area’s appeal — boosting not only tourism but also increasing the value of neighboring commercial and mixed-use properties.

Preserving History, Creating Value

Sharfi Holdings’ approach blended preservation with modernization. Signature elements of the original 1960s Buccaneer, like the tropical underwater mural and handcrafted wooden bar, have been thoughtfully restored, adding nostalgic charm to the updated space. This kind of mindful redevelopment is a hallmark of successful commercial real estate strategies — honoring the past while appealing to modern tastes, resulting in a differentiated and highly marketable asset.

Star Power: A Culinary Anchor Tenant

A standout feature of the Buccaneer’s rebirth is the hiring of Chef Paul Niedermann, winner of Season 9 of Hell’s Kitchen. His culinary influence not only elevates the guest experience but also serves as a commercial draw, increasing the destination’s viability and visibility. Just as anchor tenants can drive traffic in retail centers, a notable chef can anchor a restaurant’s appeal and drive foot traffic in hospitality-driven properties.

Community Impact and Economic Revitalization

The restaurant’s reopening is already stimulating local economic activity by generating jobs, increasing visitor numbers, and bringing renewed energy to Singer Island. Projects like this demonstrate how hospitality ventures contribute to larger commercial development goals — supporting local employment, encouraging further investment, and enhancing quality of life in the surrounding community.

A Case Study in Smart Redevelopment

From a commercial real estate lens, the Buccaneer is a strong example of adaptive reuse and strategic reinvestment. It shows how historic properties, when revitalized with care and purpose, can become vibrant economic drivers. As Palm Beach County continues to evolve, developments like this will play a critical role in shaping the future of its real estate and hospitality landscape.

Source:
 Adapted from the original article by Liz Balmaseda in the Palm Beach Post titled “Palm Beach County restaurant resurrected with menu by ‘Hell’s Kitchen’ chef” (March 20, 2025).

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Palm Beach’s Sole Gas Station Sells for $11.94M — A Testament to High-Value Commercial Real Estate

In the world of commercial real estate, location and uniqueness often drive value — and there’s no better example than the recent $11.94 million sale of Gray’s Sunoco, the only gas station on the island of Palm Beach. This record-setting transaction reflects the scarcity and desirability of commercial properties in affluent markets.

A One-of-a-Kind Commercial Asset

Situated at 340 S. County Road, near Palm Beach Town Hall, Gray’s Sunoco has long been more than just a gas station. With its full-service pumps and ability to service high-end vehicles like Rolls-Royces and Ferraris, it serves as both a community staple and a critical service point in times of need — particularly during hurricane season when fuel supplies run low.

The property, which includes four service bays and a small convenience store, sits on just four-tenths of an acre. Yet, its small footprint didn’t stop it from commanding a premium price — a hallmark of high-value commercial real estate in exclusive markets.

From $2.6M to $11.94M in Two Decades

The seller, Peter Berley, acquired the property in 2005 for $2.6 million. After 20 years of ownership, the recent sale represents a nearly fivefold increase in value, reflecting Palm Beach’s booming real estate market and the rising importance of essential-use properties.

The buyer, Alexander Hufty Griswold, is a well-known Palm Beach real estate investor with deep family roots in the area. Through a Delaware-registered LLC linked to his Armata Holdings Management Corp., Griswold secured the property with the intention of maintaining its current use.

Why This Sale Matters

This transaction highlights several key trends in commercial real estate:

• Scarcity Drives Value: As the only gas station in Palm Beach, Gray’s Sunoco offers a rare, irreplaceable service. In markets where land is limited and zoning is strict, unique commercial assets often appreciate faster than traditional properties.

• Community-Centric Investments: Griswold’s commitment to preserving the property as a gas station reflects a growing emphasis on investing with community impact in mind. Essential-use properties that serve local needs can maintain stable demand regardless of market cycles.

• Historical and Emotional Value: The station’s history dates back to the early 20th century, adding sentimental value to its already prime location. Properties with a legacy often command higher prices due to their cultural and historical significance.

What This Means for Commercial Real Estate Investors

The $11.94 million sale is a reminder that not all commercial real estate is created equal. In exclusive markets like Palm Beach, properties that blend necessity, scarcity, and history can achieve exceptional valuations. Investors seeking long-term appreciation should consider essential-use properties in high-demand areas where competition is low but impact is high.

As Palm Beach continues to evolve, the preservation of landmarks like Gray’s Sunoco demonstrates that commercial real estate is about more than just transactions — it’s about sustaining the fabric of the community.

At Cohen Commercial, we understand the value of unique commercial assets. Whether you’re buying, selling, or investing, we’re here to help you navigate the market with confidence.

Cited Source: Palm Beach Daily News, “Palm Beach’s Sole Gas Station, Which Offers Full-Service Pumps, Sells for $11.94M” by Darrell Hofheinz, March 20, 2025.

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Rapids Waterpark: A Spring Break Attraction Boosting Riviera Beach’s Appeal

As spring break approaches, one of Palm Beach County’s most popular attractions, Rapids Waterpark, is set to open its doors once again. Located in Riviera Beach, this long-standing entertainment destination not only provides seasonal excitement but also plays a role in enhancing the area’s economic and real estate landscape.

A Key Player in Local Tourism and Business

With over 40 water attractions, Rapids Waterpark draws visitors from across South Florida and beyond, contributing to the steady influx of tourists in Riviera Beach. This seasonal surge benefits nearby businesses, including hotels, restaurants, and retail centers, making the area increasingly attractive to investors and commercial real estate developers.

For property owners and businesses in the region, the park’s annual reopening signals an uptick in consumer traffic, reinforcing Riviera Beach’s status as a destination for leisure and hospitality. The consistent draw of visitors has helped sustain surrounding commercial developments, supporting growth in the retail and service industries.

Commercial Real Estate Implications

The presence of a major entertainment hub like Rapids Waterpark underscores the potential for continued commercial expansion. Properties in proximity to high-traffic attractions tend to experience increased visibility and desirability, making them prime opportunities for investment. Retail spaces, quick-service dining establishments, and mixed-use developments stand to benefit from the area’s seasonal and year-round appeal.

As Riviera Beach continues to evolve, attractions such as Rapids Waterpark highlight the synergy between tourism and real estate, demonstrating how commercial growth follows consumer demand. Whether through new hospitality projects, retail expansions, or office spaces catering to the growing workforce, the area remains an active market for commercial real estate opportunities.

For more insights into commercial real estate trends and investment opportunities in South Florida, contact Cohen Commercial.

Original article: Rapids Waterpark in Riviera Beach to open for March’s spring break

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Philly Pretzel Factory Expands to Central Florida

Philly Pretzel Factory Expands to Central Florida

Philly Pretzel Factory, the nation’s largest Philly-style pretzel brand, is making its way to Central Florida! Thanks to a new strategic partnership with veteran business leader Derek Lewis, Orlando-area residents will soon get to experience the authentic taste of Philadelphia’s most iconic snack.

This exciting expansion marks a major milestone for Philly Pretzel Factory as it continues its national growth strategy. In addition to opening new Philly Pretzel Factory stores, Lewis’s Big Dave’s Cheesesteaks locations will also begin serving Philly Pretzel Factory’s signature soft pretzels.

The soft pretzel market is seeing consistent growth as more consumers seek out convenient, innovative snacks. Philly Pretzel Factory’s commitment to traditional recipes and fresh ingredients has made it a standout brand that appeals to snack lovers of all ages.

The first traditional Philly Pretzel Factory locations in Central Florida are expected to open later this year, with potential non-traditional locations possibly arriving even sooner. Stay tuned for updates and get ready to enjoy a true taste of Philly, right here in Florida!

Source: QSR Magazine. “Philly Pretzel Factory Signs Deal to Open in Central Florida.” Published March 7, 2024. Read more.