LAKE CHARLES, LA-Construction has been launched on ValuePlace's sixth Louisiana building. The four-story, 124-roombuilding is anticipated to be completed by October 2013.

The property at 3202 N. Power Center Pkwy. is being developed bya franchisee which, according to Value Place CEO DanWeber, is developing several such properties throughoutthe state. "From a broader real estate standpoint, we're lookingall over the country at various markets with a supply-demandbalance to grow Value Place," he tellsGlobeSt.com. "We've tied up certain markets forcorporate development and certain markets for franchisees."

From a pure demand perspective, he goes on to say, Lake Charleshas a lot of decent demand drives, not the least is a liquefiednatural gas plant nearby. Furthermore, the franchisee is alsobuilding a casino nearby. "This represented the perfect fit for uswhen we look at first, the need for an economic extended stayproduct and second, the perfect concept for temporary lodging,"Weber comments. He points out that the other five Louisiana ValuePlace properties are in energy-related areas, with some takingadvantage of demand for extended-stay product.