FREDERICKSBURG, VA—Value Place has opened anewly-constructed extended-stay hotel here at 1455 Carl DSilver Pkwy. It is the flag's seventh hotel in Virginia,joining locations in Chesapeake, Richmond, Gainesville, andManassas.

One reason the brand opened in this city is that it is thefastest-growing locality in Virginia for both business andpopulation, according to Andy Anderson, ExecutiveVice President of Business Development at Value Place.

Between April 1, 2010 and July 1, 2013, the city grew by 15.1%,according to the University of Virginia's Weldon CooperCenter for Public Service. Fredericksburg's locationbetween Richmond and Washington, DC means it is an attractive basefor commuters to either or both cities. It also means extended-stayhotel traffic is higher than average.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.