OKLAHOMA CITY, OK — HotelBrokerOne (HB1) is pleased to
announce the sale of the former Crowne Plaza Oklahoma City to Oklahoma
City-based Champion Hotels, paving the way for a major multi-million-dollar
redevelopment of the property at 2945 Northwest Expressway.
The approximately 4.5-acre property, which includes the
existing 10-story hotel tower, has been a prominent fixture along the Northwest
Expressway corridor since it was originally developed as a Hilton in 1969.
After years of challenges, including a protracted foreclosure and legal
dispute, the property is now positioned for a significant transformation.
The redevelopment will be anchored by an approximately
200-room, dual-brand Hilton-franchised hotel, which will serve as the
centerpiece of a broader, innovative mixed-use development envisioned for the
site.
“This project represents an exciting vision for the
revitalization and rejuvenation of this important area,” said Peter Holmes,
Chief Operating Officer of HotelBrokerOne. “The exceptional location, the
longstanding success of the Northwest Expressway corridor, and the size of the
property combine to create a unique opportunity for an innovative and diverse
development, with the new hotel serving as its core.”
The transaction was co-listed by HotelBrokerOne’s Oklahoma
City office and local commercial brokerage Price Edwards Company.
HotelBrokerOne’s Oklahoma City team also secured Champion Hotels as the
purchaser.
The sale marks another significant transaction for
HotelBrokerOne, a leading hospitality investment brokerage firm with an
extensive presence across Oklahoma and throughout the Central and South-Central
United States. The firm specializes in the acquisition, disposition, and
redevelopment of branded and independent hotel properties, connecting owners
and investors with opportunities designed to create long-term growth and
value.
For more information about HotelBrokerOne and its recent
transactions, visit www.hotelbrokerone.com.
Photo credit: HotelBrokerOne.
High-resolution property photography is available from
HotelBrokerOne upon request.