A new hotel in Dania Beach sold for $27.8 million amid a wave of new development in the Broward County city.
N&S Properties, of Weston, sold the 143-key Hotel Morrison at 28 South Federal Highway for about $194,000 per key, records show. S3 Hospitality Miami bought the 93,822-square-foot hotel, which was completed this year.
The buyer is led by Sunil and Usha Patel of Fort Lauderdale-based Kusa Hospitality, who also own the Holiday Inn Express Cruise – Airport in Fort Lauderdale.
N&S Properties, which is led by Alvaro Correa, bought the land to build the hotel for $1.8 million in 2014, records show. It sits near the Casino at Dania Beach.
Dania Beach is preparing for an influx of new development. Spirit Airlines recently announced it will consolidate its headquarters and other facilities at a new $250 million campus at Dania Pointe. Spirit’s new headquarters will be just south of Fort Lauderdale-Hollywood International Airport and will span up to 500,000 square feet.
It will be part of a larger, 102-acre development, led by New York-based Kimco Realty, which is also under construction. The project will feature 800,000 square feet of open-air retail space, 500,000 square feet of Class A office space, more than 1,000 apartment and condo units, and a dual-branded Marriott hotel.