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Judge Sets $24.6M Price Tag for Lazydays Site
Posted By RV Business On August 19, 2013 @ 3:24 pm In Breaking News | No Comments
A final judgment order in the protracted litigation involving Lazydays RV and the company’s founder and former CEO allows Lazydays to buy its Seffner, Fla., site for $24.6 million, based on appraisals.
According to the Tampa Bay Business Journal, the Hillsborough County circuit court judge’s final order on Aug. 5 also assessed I-4 Land Holdings $11.4 million for damages to Lazydays, plus attorneys fees, according to court records.
Lazydays, the largest single site RV center in the country, is owned by LDRV Holdings Corp., but was previously owned by Tampa entrepreneur and real estate magnate Don Wallace – the owner of I-4 Land Holdings.
Wallace sold the RV dealership in 1999 and formed I-4, which leased the RV center property along Interstate 4 to Lazydays.
When Lazydays decided to exercise an option in the lease in 2011 to buy the 126 acres, I-4 denied there was an option. The dispute went to breach of contract litigation,and a judge ruled in favor of Lazydays in May, deciding there was an option for the company to buy the property.
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