The Real Deal Miami

Boca Raton’s Meridian Center gets receiver

February 07, 2012 09:45AM

Meridian Center

NAI/Merin Hunter Codman Chairman Neil Merin has been appointed the receiver for Meridian Center in Boca Raton, a 52,000-square-foot, two-office-building development in the Arvida Park of Commerce. It is the fourth receivership assignment for Merin in the past 90 days. The high volume of delinquent properties could turn into a wave of sales, however, according to Merin. “Within the next 18 to 24 months, we may see sales volume on par with the height of Florida’s commercial property boom in the period of 2005 to 2006,” Merin said. “The difference is that similar volume will encompass a far greater number of properties being sold at distressed prices.” — Alexander Britell