The Sunhill Group acquired the Jack Tar Hotel site from Houston-based seller, Bunker Hill Developments Inc. The buyers intend to build a multi-tenant retail and restaurant complex on the acreage, Chris Winters with the Houston office of Colliers International tells GlobeSt.com.
Winters, who represented the seller, says it took a year of marketing before landing a firm contract. The site holds a premium spot in the tourist town of Galveston, a coastal city 52 miles southeast of Houston. The Jack Tar Hotel was once a happening hotel on the island, especially in the 1950s and 1960s, according to Byrd. The hotel was razed in the mid- to late 1980s. Jeff Scarborough of Scarborough Real Estate in Houston represented the buyer in the deal.
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