InTown Suites Sets Sights On South Florida

RIVIERA BEACH, FL— InTown Suites has reportedly purchased 2.33 acres of vacant land here in anticipation of constructing a three-story, 121-suite extended-stay hotel… and is said to be looking to build additional facilities in South Florida in the future. According to reports, the land— located at the northwest quadrant of the just-widened Military Trail and 45th Street— was bought from Seymour A. Fine, Trustee, of South Florida for $565,000, or approximately $242,489 per acre. Mike Yacobellis, senior associate with the Palm Beach County office of CB Richard Ellis, represented Atlanta, GA-based InTown Suites in the transaction. Max Tochner of Tochner Corp. in North Palm Beach, FL represented the seller. Yacobellis reportedly pointed out InTown Suites may build other hotels in the area, noting: “Im working with them on some other possible opportunities.” InTown Suites already has another hotel in the South Florida area, situated at 8191 W. Commercial Blvd., west of University Drive, in Tamarac. SOURCE: Globestreet.com