A new hotel is coming to 23400 Walden Center Drive in Bonita Springs, Fla. Privately owned hotel group, Baywood Hotels, Inc., just purchased 2.61 acres at the Southwest corner of US 41 (Tamiami Trail) and Coconut Road for $3,000,000.
The property at the Southwest corner of US 41/Tamiami Trail and Coconut Road – caddy corner to the expansive 1.2 million square foot Coconut Point mall – represents a significant opportunity for hospitality development.
LQ Commercial Senior Associate, Bob Pekol, sold the “Coconut Square” site on behalf of the seller, HH Estero Investments LLC.
“This is a significant acquisition,” said Pekol. “Hotel options in this sector are remarkably constrained, which positions this development for exceptional market potential. We anticipate robust occupancy rates, particularly during the peak season when demand consistently outpaces current lodging supply.”
Baywood is a major player in the hospitality world. Their portfolio reads like a who’s who of global brands like Marriott, Hilton, and InterContinental Hotels Group (IHG). The exact concept for Coconut Square has not yet been announced. The project is expected to break ground early in the new year.
