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South Florida Business Journal: Huizenga Jr. sells Palm Beach County mansion to Office Depot CEO Smith

South Florida Business Journal: Huizenga Jr. sells Palm Beach County mansion to Office Depot CEO Smith

H. Wayne Huizenga Jr. and Fonda Huizenga have sold their mansion in Stone Creek Ranch, west of Delray Beach for $6.7 million to Office Depot CEO Gerry P. Smith and wife Michelle Dawn Smith.

Billy Nash of the Keyes Company’s Nash Group represented the Huizenga family in the sale of the 11,000-square-foot home at 16191 Quiet Vista Circle. Nash said it was on the market for only 10 days and the deal closed in 16 days. However, his brokerage did months of preparation before putting the home on the market with private marketing.

It was built on the 5-acre site along a lake in 2007 and acquired by Huizenga for $1 million in 2009. Its interior was recently renovated by designer Annie Santulli. With seven bedrooms and 10 bathrooms, the mansion features a pool and a patio with a grill.

“The property was absolutely stunning,” Nash said. “There was real value there.” Huizenga is the son of billionaire H. Wayne Huizenga, who led companies such as AutoNation, Blockbuster and Waste Management, and also owned the Miami Dolphins, Florida Panthers and the Florida Marlins. He is the CEO of Rybovich Marina and president of Huizenga Holdings.

“Billy Nash and The Nash Group have exceeded all of our expectations in selling our property,” said Huizenga. “From his world class marketing to his negotiating skills on our families behalf, he delivered the exact results he promised.”

Boca Raton Office Depot (Nasdaq: ODP) hired Smith in February and awarded him an employment contract with a base salary of $1.1 million, plus performance bonuses of up to 200 percent of his base salary.

Smith obtained a $3.75 million mortgage with Wells Fargo Bank. Hap Pomerantz, also of Keyes, represented the buyer.