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Catellus Group has purchased site for the future Worthington Hotel


Catellus Group has purchased site for the future Worthington Hotel

dilworthhotelReal estate investment firm Catellus Group has purchased a 1.2-acre site in the Dilworth area where it plans to build a 130-room hotel.

An affiliate of Catellus Group called Worthington Partners purchased the property, located at the northwest corner of East Worthington Avenue and Cleveland Avenue, for $2.5 million last month.

Catellus Group won a rezoning in March for the property, where the firm is planning a full-service, upscale hotel with amenities such as a sixth-floor restaurant with skyline views plus a courtyard and pool.

Catellus, headed by CEO Stephen Barker, has its headquarters on the same block, in a Charleston-style row house at 217 E. Tremont Ave. Ben Cassarino, president of Catellus Group, says the firm is still in the planning stage and doesn’t have a set construction date at this point.

Josh Beaver of The Nichols Co. represented Catellus on the purchase.

Article by: Will Boye for The Charlotte Business Journal
For full article go to: http://www.bizjournals.com/charlotte/blog/real_estate/2014/08/catellus-group-purchases-dilworth-site-for.html?ana=e_du_pub&s=article_du&ed=2014-08-04&u=nhDuY3b3EvqxnjLliRUAWA0af320f8&t=1407187746&r=full

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