MIAMI (CBSMiami/AP) — Changes are on the way for one South Florida's iconic locations.
The Miami Seaquarium is being sold to a California-based company that is a subsidiary of Spanish theme park operator Parques Reunidos.
CBS4 news partner, The Miami Herald, reported Friday that the company signed an agreement in the past month to buy the 38-acre park on Virginia Key.
The Herald reports owner Wometco Enterprises will close the deal after the Miami-Dade County Commission votes on a resolution approving the purchase in the next few months. The Seaquarium leases the land from the county and pays on a fluctuating scale based partly on revenues.
President and general manager Andrew Hertz told The Herald that talks had been underway for more than two years. He did not disclose terms of the deal but said Palace Entertainment initiated the sale.
The park opened in 1955.
(TM and © Copyright 2014 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2014 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)
for more features.