A Mount Laurel hotel once dubbed the best in South Jersey by local press is headed to auction.
The 279-room Hotel ML and CoCo Key Water Resort will go up for auction Aug. 9-11, a handful of years after South Jersey Biz Magazine named the property the “Best Hotel in South Jersey” in 2017. The starting bid for the 11-story property at 915 Route 73 is $4 million. The sale will take place via online auction platform Ten-X.
Hotel ML and CoCo Key Water Resort is owned by Ardmore-based Willner Realty and Development Co., which bought the property when a previous owner auctioned off 10 CoCo Key Water Resorts across the country.
Willner reportedly acquired the Mount Laurel location along with a CoCo Key Water Resort and Adam’s Mark Hotel in Kansas City, Missouri, which is still listed online in the commercial real estate firm’s portfolio. Willner acquired the property for $7.5 million in 2011, according to New Jersey property records listed on State Information Services.
The Mount Laurel property was assessed at $12 million in 2020, per State Information Services.
*Article courtesy of Philadelphia Business Journal
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