October 19, 2017
DALLAS – Transwestern today announces it brokered the sale of a 9.24-acre, mixed-use, zoned tract of land in Arlington, Texas, to Drury Development Corp. for a full-service hotel. The property to be developed west of the Lincoln Square retail center will include a 268-room Drury Plaza Hotel and an upscale restaurant. Senior Vice President Larry Jordan and Managing Director Steve Williamson of Transwestern’s Retail Services group represented the seller in the transaction.
“Drury was drawn to the development opportunity in North Arlington due to the area’s tremendous growth, many amenities and extensive entertainment options that regularly draw hotel guests from more than 100 miles away,” said Jordan. “The Drury Plaza Hotel will be one of the first full-service hotels constructed in North Arlington’s entertainment district since the Arlington Convention Center Hotel was built on Ballpark Way nearly 20 years ago.”
Arlington is a prime location for both business and leisure, the confluence of entertainment and hospitality within the Dallas-Fort Worth metroplex. The abundance of family-oriented entertainment, sports, shopping and dining amenities in the area drew more than 14 million visitors to the city last year.
About Drury Hotels Company
Drury Hotels Company is a Missouri-based, family-owned and operated hotel system with more than 140 hotels in 21 states. Founded in 1973, Drury Hotels has been recognized by the J.D. Power 2017 North America Hotel Guest Satisfaction Index Studysm, earning the award for “Highest in Guest Satisfaction Among Upper Midscale Hotel Chains,” for the 12th-consecutive year. Brands include Drury Plaza Hotel®, Drury Inn & Suites®, and Pear Tree Inn by Drury®, as well as other hotels in the upper midscale hotel segment. Drury Hotels continues to provide exceptional value for business and leisure travelers with its many free amenities - The Extras Aren’t Extra®. For more information, visit www.druryhotels.com or call 1-800-DRURYINN. Join the conversation on Twitter @druryhotels or on Facebook.
Transwestern is a privately held real estate firm of collaborative entrepreneurs whodeliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Tenant Advisory, Capital Markets, Asset Services and Research, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 35 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the North Texas region, follow @TranswesternDLS and @TranswesternFTW.