Investment Rationale
Cushman & Wakefield of Florida, Inc, in conjunction with the State of Florida's Department of Environmental Protection, is pleased to offer one of the last remaining developable parcels east of Interstate 95 in Palm Beach County.
The offering is comprised of 79.91 acres of Mixed Use Industrial land and is located at the Northeast intersection of Lantana Road and Andrew Redding Road in Lantana, Palm Beach County, Florida. The land is owned by the State of Florida, which leased the land to the Department of Health and Rehabilitative Services under a 99 year ground lease expiring in 2071, which operated the former A.G. Holley Hospital for 62 years until it was closed in 2012. The front 22.66 acres of the 79.91 acres are currently subleased to the Town of Lantana for use as recreational facilities, with the sublease set to expire in December 2024 with no renewal options. The Town of Lantana will consider relocating these facilities.
The site is ideally located within the Palm Beach County market. It is situated approximately one-half mile east of Interstate 95, one mile west of the Atlantic Ocean nine miles east of Florida's Turnpike, 9.5 miles south of Palm Beach International Airport, and 10.2 miles south of the West Palm Beach CBD.
The site's Palm Beach County Tax ID Number is a portion of Folio No: 40-43-44-33- 00-000-5000. Current improvements include the main hospital consisting of 61,542 square feet, and auxiliary buildings totaling approximately 78,071 square feet.
Offering Highlights
- 79.91-acre former State of Florida A.G. Holley Hospital property
- Mixed-Use Land Use
- MI Zoning
- Largest remaining contiguous land tract remaining east of I-95 in Palm Beach County, Florida
- Immediate access to I-95
- Front 22.66 acres subleased to the Town of Lantana until January 2024 for recreational ball fields with the potential for relocation.
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High-density population center with a strong labor pool
***This property is being sold “as-is, where-is”. It is the offerors responsibility to visit and/or verify all conditions of this property and all terms and requirements of the Invitation to Offer. The offeror will not be relieved of any liabilities and/or obligations resulting from lack of knowledge of conditions or requirements.***
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