HUNTSVILLE, AL | MARCH 3, 2017 – The 120-room, four story hotel at Redstone Gateway is completed and now open for business. The TownePlace Suites by Marriott is located on the south side of the six acre lake with access from Market Street. The Hotel is located in close proximity of the recently opened retail development, giving hotel guests the option to walk to the restaurants at the new center.
The extended stay TownePlace Suites hotel provides thoughtful spaces for both working and relaxing and helps guests acclimate to the neighborhood through the TowneMap® map wall, which displays local favorite restaurants, services and attractions. A moderately priced brand, TownePlace Suites offers a tiered rate structure based on length of stays for travelers who are on the road for a longer period of time.
The hotel was developed and is operated by Yedla Management Company, Inc.
Redstone Gateway is a mixed use, master planned business park on Redstone Arsenal, and is a joint venture between Corporate Office Properties Trust (COPT) and Jim Wilson & Associates, LLC (JWA). Located on a 470 acre tract of land at the entrance to Redstone Arsenal, Redstone Gateway, upon build-out, will include over 4 million sf of office space, including education facilities, two hotels, retail shop space, including restaurants in a corporate campus environment marked by Class A office buildings, extensive landscaping and park venues.
Jim Wilson & Associates, LLC, based in Montgomery, Alabama, has developed and managed a wide array of properties throughout the eastern United States, including Class A office buildings, hotels, residential communities and millions of square feet of premier shopping space. JWA was founded by Jim Wilson, Jr. and today is led by his sons, Jim Wilson, III and Will Wilson, and a well-established team of talented and experienced professionals. For more information about Jim Wilson & Associates, LLC, please visit www.jwamalls.com.
Corporate Office Properties Trust (COPT) (NYSE: OFC) is an office REIT that owns, manages, develops and selectively acquires office and data center properties in locations that support United States Government agencies and their contractors, most of whom are engaged in national security, defense and information technology (“IT”) related activities servicing priority missions (“Defense/IT Locations”). COPT also owns a portfolio of Class-A office properties located in select urban/urban-like submarkets within COPT’s regional footprint (“Regional Office Properties”). As of December 31, 2016, COPT derived 87% of core portfolio annualized revenue from Defense/IT Locations and 13% from Regional Office Properties. As of December 31, 2016, COPT’s core portfolio of 152 office properties encompassed 16.3 million square feet and was 94.4% leased. For more information, please visit www.copt.com.
