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4/04/17
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A San Diego-based hotel developer paid $3.5 mil for 1.68 acres of vacant land in Escondido. The undeveloped parcel, located at 200 La Terraza Blvd, is entitled for a 105-room SpringHill Suites by Marriott hotel.
The property is conveniently located at the junction of I-15 and State Route 78 at the W. Valley Pkwy offramp. The new hotel will be located near an abundance of popular retail, dining, shopping and entertainment amenities including the San Diego Zoo Safari Park, California Center for the Arts and Historic Downtown Escondido. It is also close to Palomar Hospital, Cal State University San Marcos and Palomar College.
Terry Jackson and Matt Davis with Cushman & Wakefield represented the buyer. The seller was San Bernardino Hospitality LLC. According to Jackson, the planned project already has grading and building permits in place. The purchaser is targeting a construction start in the third quarter of 2017.
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