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CENTENNIAL, COLO. — KT Development has acquired a three-acre land site within Potomac Park & Industrial Complex in Centennial, just south of Denver. Paragon Financial Partners sold the plot for $1.2 million. The buyer plans to develop a WoodSpring Suites Hotel on the site.
Slated for completion in late 2024, WoodSpring Suites Hotel will feature 122 guest rooms. The hotel is an extended-stay brand from Choice Hotels International Inc.
Rick Egitto and Howard Schmidt of Avison Young represented the buyer, while Bo Pitto, Chris Schultz and James McGill of JLL represented the seller in the transaction.