ATLANTIC CITY, NJ Jones Lang LaSalle Hotels was appointed to identify a joint venture partner for The Towers (formerly known as Tannen Towers), a vacant, luxury apartment building suited for conversion into a hotel or timeshare redevelopment. The 31-story Towers is located at the main entrance to Resorts Casino Hotel. Originally conceived as a luxury, high-rise condominium complex, The Towers has 296 units and 8,100 square feet of retail and/or meeting space. Alan Tantleff, senior vp/Jones Lang LaSalle Hotels, said, “there is enormous potential for a partnership here because all of the casinos need more rooms to generate casino traffic. The overall casino hotel market runs in excess of 95% occupancy annually. The two closest casinos, Resorts Casino Hotel and Trumps Taj Mahal, have expressed a willingness to work together to ensure that the property is redeveloped as a hotel or timeshare use.” (11/29/00)
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