C&W Completes Sale Of 80-Acre A.G. Holley Site

Cushman & Wakefield announced the sale of the A.G. Holley site in Lantana.

The land for sale was a joint bid offering from the State of Florida’s Department of Environmental Protection and Cushman & Wakefield of Florida, Inc, for one of the last remaining developable parcels east of Interstate 95 in Palm Beach County.
Cushman & Wakefield’s Logan Holz, Sr. Director from the firm’s Jacksonville office, and Christopher Thomson, Sr. Director in South Florida, led the project.
The A.G. Holley site 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 was 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 (pending completion of Ocean Avenue bridge), 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 buyer, Kenco Communities is working to finalize the site plan for the property with the City of Lantana.
“This was a great opportunity for the State of Florida to capitalize on one of its underutilized properties and also bring a nice development to the City of Lantana that will produce tax revenue and amenities to the city,” stated Cushman’s Christopher Thomson.

 

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