Blinks Investment Inc. bought the site from NewQuest Properties of Houston. The brokerage firm's Dave Ramsey handled talks for the seller while Blinks also used in-house representation to structure the deal.
Ramsey tells GlobeSt.com that the Houston-based hotel franchisee will break ground on the Holiday Inn Express in the next 60 days. The land is adjacent to NewQuest's Hunting Bayou shopping center, a 280,000-sf venue with a Cinemark and 24-Hour Fitness as the anchors. Ramsey says the tract was sold for hotel purposes because its layout made a "perfect fit" for such a product.
There are more than 1,000 Holiday Inn Express hotels worldwide. The Atlanta-based brand is considered one of the hottest successes for parent company, Six Continents Hotels. Holiday Inn Express revolves around value-oriented, limited service, mid-market hospitality services.
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