NAI REALVEST | CHARLES WAYNE COMMERCIAL CLOSES $975,000 LAND SALE FOR AN EXTENDED STAY HOTEL BY I-95 IN ORMOND BEACH
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.