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NAI Realvest | Charles Wayne Commercial Closes $975,000 Land Sale for an Extended Stay Hotel by I-95


Ormond Beach, Fla. – NAI Realvest | Charles Wayne Commercial recently closed on the $975,000 sale of 3.43

acres at 175 Interchange Blvd. just west of I-95 in Ormond Beach. A 124-room Extended Stay America Hotel will be built on the property.

Brian Adair and Ted Lightman, principals of NAI Realvest | Charles Wayne Commercial, negotiated the transaction representing the seller Southwest I-95 LLC. The seller is part of the Daytona Beach development team that includes Charles Wayne Properties and Holub Development.

The Charlotte-based buyer hotel entity ESH H Portfolio LLC had the property under contract to purchase since December and decided to close when all permitting was granted by the City. The buyer was represented by Carol Bauman of Southeast Commercial-Tampa Bay.

“The sale demonstrates how Ormond Beach is profiting by the growth occurring nearby at Daytona’s LPGA I-95 interchange including the Tanger Outlets and North American retail development and the Margaritaville community,” Adair said.

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About NAI Realvest

NAI Realvest, covering all of central Florida, is a fully integrated commercial real estate operating company specializing in brokerage, development, investment, leasing and management, consulting and research services in the U.S. and worldwide. NAI Global is an international commercial real estate network with over 400 offices spanning the globe. Since 1978, clients have built businesses on the power of NAI Global’s expanding network. Extensive services include multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services. To learn more, visit www.NAIRealvest.com.

About Charles Wayne Properties

Charles Wayne Properties has also served the needs of the real estate community since 1978. It has developed and managed shopping centers, freestanding retail, office buildings and industrial parks. CWP has worked with local and national clients in capacities including brokerage, development, investment sales, health care practice sales, tenant representation, property management and receivership. To learn more please visit www.charleswayne.com.

 

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