DEP Receives Multi- Million Dollar Offer for Closed A.G. Holley Hospital in Lantana

ag-holley-north-aerial_original_cropOn January 29, 2014, the Florida Department of Environmental Protection received a $15.6 million offer to buy the former A.G. Holley State Hospital site in Lantana. Today was the deadline for sealed offers to purchase the 79.91 acres east of Interstate 95 in Palm Beach County.

The Department’s Division of State Lands, which buys and sells non-conservation and conservation land for the State of Florida, received the bids and opened them Wednesday. The high offer is from Southeast Legacy Investments, LLC from Boca Raton. The Division received five valid bids and two invalid bids. The minimum bid was $9 million for the mixed use industrial site.

“We are thrilled to get such a high amount of interest in this site, as we are always striving to get the most value out of state-owned property we are asked to sell,” said Susan Grandin, Director of the Division of State Lands. “Once completed, this sale will not only bring in more revenue for Florida, but will create jobs and improve Palm Beach County’s tax rolls.”

If the offer is approved by the Governor and Florida Cabinet, the company will have 90 days to complete due diligence on the property. Then, the Division can move forward with closing. The property currently includes 23 acres that are subleased to the Town of Lantana until December 2024 for recreational ball fields.

The Division originally offered the property in July 2013 for 60 days, but received unresponsive bids. Under the leadership of Katy Fenton, Deputy Secretary for Land and Recreation, staff made the property more attractive by including a built-in due diligence period and not requiring a 10 percent non-refundable deposit.

The Department also negotiated a potential relocation of the Town of Lantana’s ball fields, which are currently along Lantana Road. The Department worked with the town and state agencies that have land leases nearby to potentially relocate the ball fields if a new owner is willing to pay for construction and development, while making sure the agency’s space needs are met. With those changes, the Department was able to secure five valid offers for the property.

The site is ideally located in Palm Beach County, approximately one-half mile east of Interstate 95, one mile west of the Atlantic Ocean nine miles east of Florida’s Turnpike and 9.5 miles south of Palm Beach International Airport.

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