Lion Point completed a Phase I Environmental Site Assessment (ESA) on an approximately 52-acre developed with an approximately 200,000-square foot arena in its central portion. It is located at 1415 45th Street in Mangonia Park, Florida. The Phase I was completed in accordance with the American Society for Testing and Materials (ASTM) E-1527-21 “Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process.”

The Site was historically a mango grove in the early 1900s and was redeveloped as the Palm Beach Jai-Alai Fronton in 1955. According to published reports, the prior arena was entirely consumed in a fire in December 1978 and it was rebuilt in the 1980s. A portion of the Magnolia Park Tri-Rail commuter rail station is located in the northeastern portion of the Site, which provides access to the railroad located off-Site adjacent to the north.