PROPERTY DETAILS & FEATURES

The City of West Palm Beach Community Redevelopment Agency seeks to dispose of a property located at 314 Clematis Street, West Palm Beach, FL 33401.

Available Property:
314 Clematis Street, West Palm Beach, FL 33401

PROPERTY FACTS

Property Type: Office
Building Size: 29,181 square feet
Building Class: B
Year Built/Renovated: 1923/2005
Tenancy: Multiple
Building Height: 2 Stories
Typical Floor Size: 14,591 SF
Slab-to-Slab: 10 feet
Building FAR: 1.91
Land Acres: 0.35 acres
Zoning: CCI, West Palm Beach - CWD-CD - Clematis Waterfront - Conserv' ( 74-West Palm Beach)

PROPOSAL TIMELINE

• October 20 –  Publish Notice of Disposition – 30 Days
• November 20 – Proposal submissions close
• November 20 thru December 1– Review proposal submissions

Staff is currently reviewing proposals and an analysis is being conducted. Next steps and date will be forthcoming at this time.

* The CRA reserves the right to make changes to the schedule*

PROPOSAL PROCESS

The West Palm Beach Community Redevelopment Agency will consider proposals for both purchase and/or lease-to-purchase that meet the following criteria and contain the following required information:

• Purchase price offered, with deposit information and anticipated closing date; asking price is negotiable.; or
• Lease with option to Purchase, negotiated rent/year for 5 years with option to purchase for a negotiated price after year 5, or negotiated price prior to year 5. Purchase option must reflect an adequate return to the CRA based on proposed lease payments and projected purchase inclusive of proposed renovation budget.
• Described intended use of the building must meet City of West Palm Beach Downtown Master Plan and Zoning Code. Proof of zoning approval needed prior to closing.
• Specific uses must be identified; Proposals for uses as nightclubs / alcohol or cannabis-related businesses will not be considered.
• Proposal must meet the goals of the City and CRA
• Proposal must show that the property will maintain property tax generation.
• Proof of prior experience with purchase, renovation, operations, and maintenance of commercial space
• All cash deals with evidence of funds for a renovation budget.
• Full purchase price due at closing, including closing costs.
• Due Diligence and Closing not to exceed 120 days.
• Clear and expedient timeline of project including due diligence, closing, construction, certificate of completion and re-opening date (contract execution to stabilized occupancy)
• Any proposed partnership agreements must clearly identify each partner and outline the terms of ownership and responsibility, clarifying the entity that will have control of the property.

Proposals must be received from those interested within thirty (30) days after the date of publication of this notice. Proposals received after the deadline will not be considered.

Proposals shall be submitted to: Robert Trager, Real Estate Manager West Palm Beach CRA, 401 Clematis Street, West Palm  Beach, FL 33401, Phone: (561) 822-1409; Email: cra@wpb.org.

Proposers’ submitted offers that meet the above criteria and information will be required to present their offer to the Community Redevelopment Agency Board. The meeting is currently scheduled to be held on TBD at the West Palm Beach City Hall, located at 401 Clematis Street.  The meeting date and time are subject to change. Qualifying proposers will be advised.

No proposal shall be considered accepted until a written contract is executed by the proposer and the CRA.

IMPORTANT: Contact by a proposer (or anyone representing a proposer) regarding this property with the West Palm Beach Mayor, any City Commissioner, any CRA Board Member, or any City employee other than the CRA Real Estate Manager, will be grounds for disqualification from consideration of the violator’s proposal.  Contact with the Real Estate Manager shall be for clarification purposes only. Prohibited contact includes, but is not limited to: phone calls, emails, correspondence, text messaging, social media communication, in-person lobbying or any other form of communication. For purposes of clarification, a team’s representatives shall include, but not be limited to, the proposer’s employees, partners, attorneys, officers, directors, Providers, lobbyists, any actual or potential tenant of 314 Clematis Street, or any actual or potential subcontractor or contractor or of the proposer and the proposer’s team. Any violation of this condition may be grounds for disqualification. This restriction will remain in effect until the CRA executes a contract and/or lease or otherwise takes action which ends the process for the disposition of 314 Clematis Street.

The CRA reserves the right to reject all proposals, to re-notice the property, or to retain the property for the CRA's future use, and to take any other action deemed to be in the best interest of the CRA and City as provided by statute.

Prior to submitting a proposal, business MUST the following information and documents:

A. Letter of Intent

B. Past Projects Outline

C. Funding Sources

a. Provide proof of the financial capacity to purchase and develop the property

D. Plans for the Site

All completed proposals must have all documents stated above to be reviewed by the evaluation committee for recommendations. After this, all completed proposals will then be reviewed by the CRA Board. Each proposer will be required to do a presentation and the board will make final selection at the board meeting and then final contracts for sale will be executed.

Proposals shall be submitted to: Robert Trager, Real Estate Manager West Palm Beach CRA, 401 Clematis Street, West Palm  Beach, FL 33401, Phone: (561) 822-1409; Email: cra@wpb.org.