(Savethe date: RealShare Industrial2012 comes toThe Bankers Club, Miami, December 5 -6.)

PALM BEACH—The former home of Ed Morse Chevrolet dealership willsoon be marked by the Mazda brand. The 6.5-acre property at thenorthwest corner of Northlake Boulevard and Alternate AIA justtraded for $5 million.

Reichel Realty represented the seller,Morse Operations. Grieco Motorsacquired the site, which includes three buildings totaling 45,000square feet. The buyer will renovate the property and open asGrieco Mazda of North Palm Beach, occupying 4.5 acres and the main35,000-square-foot building. Grieco will lease the balance of theproperty, which spans 2.8 acres and two buildings totaling 8,000square feet.

“We worked to sell this property for several years and had somecontracts with different groups come and go,” BillReichel, principal of Reichel Realty, tells GlobeSt.com.“They were trying to figure out how to turn the property into aninvestment.”