WASHINGTON, Nov. 14 /PRNewswire/ -- CarrAmerica Development, Inc., an
affiliate of CarrAmerica Realty Corporation (NYSE: CRE), today announced that
MEI Development Company and MEI Hotels Incorporated will be developing and
managing a 149-room Hilton Garden Inn at Peninsula Corporate Center in Boca
Raton, Florida. Located at I-95 and Congress Avenue, the 60.5-acre
development project is also home to the National Council for Compensation
Insurance (NCCI).
CarrAmerica Managing Director for South Florida, Thad Ellis, commented,
The Hilton Garden Inn will be an excellent complement to the office and
retail elements of Peninsula Corporate Center. Mr. Ellis continued, The
tenants in the park are looking forward to the addition of a convenient
upscale lodging facility.
David Moyar, Chief Operating Officer of the Cleveland-based MEI companies,
added, We are currently developing over $60 million of Hilton branded hotels.
The high corporate demand and lack of a full-service hotel in the immediate
vicinity make Peninsula Corporate Center an ideal location for a Hilton Garden
Inn. We are grateful to CarrAmerica for accepting our bid and for working
diligently with us to accomplish this acquisition. MEI has obtained site
plan approval, and will break ground before year-end.
CarrAmerica Development, Inc., an affiliate of CarrAmerica Realty
Corporation (NYSE: CRE), is one of the largest, most active developers of
office space in the United States today. CarrAmerica Development has completed
the development of more than 18 million square feet of office space
nationwide. Build-to-suit and pre-lease development projects have been
completed for customers including: Capital One (125,000 square feet in Las
Colinas, Texas), Charles Schwab & Co. (137,000 square feet in Englewood,
Colorado), Gateway (182,000 square feet in San Diego, California), the
International Finance Corporation (720,000 square feet in Washington, D.C.),
Nextel Communications, Inc. (328,000 square feet in Reston, Virginia), Nokia's
Headquarters of the Americas (604,000 square feet in Las Colinas, Texas),
RadiSys Corporation (50,000 square feet in Hillsboro, Oregon), and Sun
Microsystems (133,000 square feet in Dallas, Texas).
SOURCE CarrAmerica Development, Inc.
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