**Historic Palm Pavilion in Clearwater Sold for $23 Million**
The iconic Palm Pavilion Restaurant & Inn in Clearwater, Florida, has been sold for a combined $23 million. The transaction divides ownership between two buyers: Beachside Hospitality Group has acquired the beachside Palm Pavilion Restaurant, while McKibbon Equities has purchased the adjacent Inn.
Originally constructed in 1926, the Palm Pavilion holds the distinction of being Florida’s oldest operating beach pavilion. The property features an 11,869-square-foot restaurant and a 12,129-square-foot inn with 37 units.
The Hamilton family has owned and operated the Palm Pavilion for over 60 years. In the 1990s, they transformed the space into a full-scale restaurant and later expanded with the opening of the Palm Pavilion Inn in 1988.
As part of the transition, Beachside Hospitality Group will continue to run the restaurant, rebranding it as Crabby’s Beachside Pavilion to align with its portfolio. McKibbon Hospitality, the management arm of McKibbon Equities, will take over operations of the inn.
The sale was brokered by John Gerlach, Jake Gerlach, and Cyndi Cushman of Colliers, who represented the Hamilton family. John Fahey of SRS Real Estate Partners represented Beachside Hospitality Group.
