Neil E. Merin, SIOR, CCIM Sells 51.6-acre Wellington Site to be Developed as Part of Lotis Wellington

The following is an excerpt from an original artcile published by Brian Bandell at the South Florida Business Journal. View PDF | View Link

The second phase of the Lotis mixed-use development will move forward after the developer purchased the property, obtained a construction loan, and signed a new miniature golf operator as a tenant.

West Palm Beach-based 441 Partners, led by Neil Merin of NAI Merin Hunter Codman, sold the 51.6-acre site on the west side of U.S. 441, just south of the office park at 1053 S. State Road, for $13.5 million to Lotis Wellington 2 LLC, an affiliate of Boca Raton-based JKM Development.

The first phase of Lotis Wellington is currently under construction. It will have 191 apartments, 150 units of senior independent living, a 110-bed assisted living and memory care facility and 118,000 square feet of commercial space. Cooper’s Hawk Winery & Restaurant signed on as a tenant.

Author: Admin

Marketing Manager at NAI Merin Hunter Codman

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