Development costs are at least $100 million, according to published reports which say the hotel company paid about $10.5 million to a Germany-based company for the 3.7-acre site.

Six Continents officials couldn't be reached at GlobeSt.com's publication deadline to verify the purchase price and learn the seller's identity. A prepared statement from the company didn't disclose that information. But according to GlobeSt.com research, the land deal is the biggest of its kind this year in metro Atlanta.

The estimated $10.5 million price equates to $2.84 million per acre or $65.15 per sf, steep for a hotel zoned tract that might sell for $100,000 per acre or about $2.30 per sf in other sectors of metro Atlanta, according to GlobeSt.com research.