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Commercial Real Estate
Business Observer Friday, May 4, 2018 6 months ago

London Bay Homes buys Bonita Springs site for $12.75 million

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Naples homebuilder takes control of 30-acre, waterfront tract
by: Kevin McQuaid Commercial Real Estate Editor

An affiliate of London Bay Homes, the Naples-based residential builder with single-family and senior-living communities in Sarasota, Estero, Naples and Lakewood Ranch, has acquired a 30.5-acre waterfront site in Bonita Springs for $12.75 million.

The former Weeks Fish Camp property, which is adjacent to the 454-room Hyatt Regency Coconut Point Resort & Spa, could become the site of a high-end senior living project similar to the company’s 83-acre Moorings Park at Grande Lake project, in Naples.

“If you’re looking across Southwest Florida for really great waterfront parcels, it’s a pretty short list,” says London Bay Homes President and CEO Mark Wilson. “And Weeks is a great piece of land, with opportunities for waterfront views and access to Estero Bay.”

Wilson adds the company is still studying options for the site.

“London Bay is a residential developer, and this property will be multifamily in nature,” he says. “It has the potential for senior living, and we know that well through the work we’re doing with Moorings Park. But right now we’re exploring both.”

The 23149 Weeks Fish Camp Road land was sold April 19 to London Bay affiliate LB Estero Bay Investments LLC, records show. The site had been owned by a trio of companies, comprised of Donovan LLC, Estero Bay Marine LLC and Sugar Mountain Development LLC.

“It’s a very high-profile site, both because of where it is and because it’s on the water, it’s a very special piece of property,” says Randy Thibaut, president of Land Solutions Inc., the Fort Myers-based commercial real estate brokerage firm that negotiated the transaction.

“And in this case, the new owner will be utilizing the property to its highest and best use,” adds Thibaut, who negotiated the London Bay deal together with LSI Director of Sales Justin Thibaut and Doug Meschko.

In Naples, London Bay has built homes in the Estuary at Grey Oaks, Quail West and Talis Park communities; and in Sarasota, the company is best known for its homes in the Founders Club golf community off Fruitville Road and in the Spice Bay neighborhood.

London Bay also constructs high-end single-family residences in Estero and Lakewood Ranch.

 

 

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