Commercial Real Estate, Capital, Insurance, Leasing & Management

Waterfront Hotel, $14 Million Project, Open for Guests

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Excerpted from Business Observer story.

DUNEDIN — A new waterfront Hampton Inn and Suites, a $14 million project in Dunedin, opened late last month.

The hotel, at 2641 Michael Place  has 88 rooms, according to a statement. Features include rooms with private balconies and ocean views; a 24-hour business center; meeting room; a fitness center; and an outdoor saline pool.

AV Florida Hotel LLC hired Tampa-based Franklin Street, a full-service commercial real estate firm, to oversee the 15-month construction management project, the release states. Franklin Street’s responsibilities included project planning; design management; furniture, fixtures and equipment coordination; construction management; procurement management; and budget and schedule management.

“With this construction project, AV Florida Hotel LLC has established Hampton Inn’s prominence as one of the prime hotel lodging properties in this area of the Gulf Coast, providing much needed hotel rooms within close proximity of Honeymoon Island State Park,” says Franklin Street Vice President Patrick McGucken in the statement. “The client was impressed by Franklin Street’s ability to make this project a reality by collaborating across various business lines and bringing added value to their asset. Our team is proud to have partnered with them on this project.”

In addition to overseeing project management for the construction of the hotel, Franklin Street Capital Advisors arranged debt and equity development financing for the project, the release states. Franklin Street Insurance Services provided the builder’s risk and general liability insurance policies, while Franklin Street’s landlord representation team is working to find a restaurant tenant for the remaining outparcel.

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