PHOENIX-A New Mexico-based developer has purchased a parcel near a popular freeway and plans to build a 200-room business hotel there. GDM Land purchased 3.5 acres at 44th Street, just south of Interstate 202 and north of McKinley Street. Terms of the land purchase were not disclosed.

The limited-service hotel will have at least 200rooms, but the exact size of the hotel has not yet been determined, nor has the date for start of construction.

The land was sold by W.W. Phoenix Corp., a division of San Diego-based Westlodge Hospitality. The sale was negotiated by the Phoenix office of Grubb & Ellis.

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