We were told that it was a very expensive building to maintain. Since they had just finished renovating a bigger auditorium in West Palm Beach, about a 30 min drive from this one, it made sense for them to consolidate the circuits and meet there instead.
We were also told that with the funds raised from the sale of this one we would pay off the loan due for the West Palm Beach auditorium and that we'd keep any leftover money for a possible newer, more efficient circuit hall closer to us in Miami.
Almost 7 years later, money from sale vanished and there's no more talk of a new hall closer to us.