Here's another article about LaVela

Club La Vela Property Under Contract

By Brian Goddin--bgoddin@wmbb.com
News 13 On Your Side
Monday, November 29, 2004

The "largest nightclub in the U.S.A." is nestled on about 5 and a quarter acres of prime real estate sandwiched between the Gulf of Mexico and Thomas Drive in Panama City Beach.

Officials say the property has not sold yet but it is under contract between the current owners, the Pfeffer family--who started building the club 20 years ago--and a Destin-based real estate and land development company, Olson and Associates.

As a matter of public record, the company is planning to build a 982-unit condominium complex there. The property has an estimated taxable value of 3.7 million dollars but the selling price is likely to be much more than that.

There is no official word yet about whether or not Club La Vela will be relocated once the current property is sold.