St. Petersburg / Wildwood, Fla. – NAI Realvest recently closed on the $825,000 sale of 2.7 acres at County Road 229 and State Road 44 just east of the I-75 Interchange in Wildwood. MPH Hotels, Inc. headed by Michael P. Holtz, a hotel developer / operator based in St. Petersburg, purchased the property to build a 92-room Holiday Inn Express that will break ground in mid-late October. Kevin O’Connor and Matt Cichocki, principals of NAI Realvest, brokered the transaction on behalf of the buyer and the Winter Park-based seller 2511 Howell LLC whose principal is a local investor / owner of several businesses. MPH currently has several hotels under development or open and operating throughout the Midwest and Florida. The Wildwood hotel is scheduled to open December 1, 2020. “The SR 44 corridor between I-75 and The Villages has seen a strong surge of development activity since the expansion of The Villages to the south,” O’Connor 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 MPH Hotels, Inc.
MPH Hotels Develops limited service hotels, typically 75 to 150 rooms in secondary markets to operate for a period of time; then sell the hotel and realize the potential gain for the investors. The company sees a tremendous opportunity for growth as the secondary markets continue to grow throughout the country and the need for quality lodging in these markets expands. Since its inception, MPH Hotels has developed/acquired and/or constructed over 26 hotels in seven states. To learn more, visit www.mphhotels.com