An extended-stay hotel will be developed on a two-acre tract at the corner of St. Landry Road and Outfitters Drive in Gonzales that was sold this month to S&R Development Inc., represented by Hiren “Chip” Patel. Tower Capital Holdings LLC, represented by William N. FaKouri, sold the land for $1,132,573, or $13 per square foot. The sale was brokered by Jordan Johnson with Beau Box Commercial Real Estate, which represented the seller, and Steve Legendre with Sperry Van Ness|Graham, Langlois and Legendre, which represented the buyer.
“Chip realized that the growth in the industrial corridor along with the influence of the Lamar Dixon Expo Center would generate significant demand for extended-stay hotel users,” says Legendre. “This is a Hilton hotel concept that is new to our area. Each unit offers a kitchen and work area, along with the standard hotel amenities. It should work very well in this location.” Construction on the new hotel should begin sometime before the end of the year.
(Appraiser Tom Cook owns Cook Moore and Associates. Reach him at 293-7006 or TCook@cookmoore.com.)