The Kansas City Star from Kansas City, Missouri • 69

9AMII1 VWftM Tuesday March 3 The Kartsas City Star' D3S Hammons adds more fish to sea of hotel rooms Springfield developer is building Embassy Suites next to Bass Pro Shop in Dallas area By JOE GOSE Staff Writer If looking for a new audience to hear your walloping fishing tale a new John Hammons hotel might offer the perfect venue John Hammons Hotels 1 Sunburst Hospitality Corp and Choice Hotels International both public companies based in Silver Spring Me I on Thursday officially opened an 88-unit MainStay Suites Hotel near Tiffany Springs Parkway and Interstate 29 in the Northland The hotel is the eighth MainStay in the United States but only the latest of the dozen or so extended-stay hotels that have popped up in the Kansas City area lately such as Extended Stay America Homewood Suites and Homestead Village Investors in the extended-stay industry bet that the growing number of transient workers will increase demand for lodging structures that resemble apartments more than hotel rooms Sunburst officials cite research that suggests demand for moderately priced exjended-stay lodging could fill 100000 rooms daily nationwide And the officers say the supply of rooms is inadequate In addition to the standard extended-stay amenities such as kitchens and work space Main-Stay features an automated self- service kiosk that enables travelers to check in and out themselves Choice Hotels franchises more than 4 1 60 hotels open or under development in 33 countries Its brands include MainStay Comfort Quality Econo Lodge Sleep hm Rodeway Inn and Clarion Sunburst owns about 75 hotels currently operating and has 14 others under development throughout the country Quote of the week Central Business District is reinventing itself Central business districts around the country are undergoing reinvention but I think Kansas City is ahead of the DST Phil Kirk guest speaker at the Downtown Downtown Marketing Seminar held last week at the Marriott Muehlebach Hotel Skyline is published each Tuesday Write to Joe Gose at the Business Desk The Kansas City Star 1 729 Grand Blvd Kansas City Mo 64108 Call him at 234-4289 or 234-7799 vices Inc is developing a 240-acre residential subdivision comprising 39 lots just west of US 69 on 179th Street Quinn has lived in the area for some time and friends who visited wondered aloud about buying a few acres and moving out that way too prompted me to find some to do the he said The subdivision known as Wolf Valley is next to Overland future arboretum and botanical garden So far interested buyers have purchased one lot and reserved six others Remaining lots range from two acres to nearly 10 acres and cost $140000 to $360000 Quinn said he still is working on some commercial transactions but that the residential work offered a new twist hot for he said a challenge to put these deals More places to stay More beds are available for the expected gaggle of extended-stay travelers who are on their way to the Kansas City area founder and president of Bass Pro Shops were pleased to invite them to our site and feel that we will be perfect Hammons said putting the first upscale full-service hotel in the area gave him a good chance to capitalize on the booming Grapevine Mills Mall project is one of the most dynamic locations for new hotel development he said referring to its proximity to major highways and the DallasFort Worth International Airport the phenomenal success of the Grapevine Mills project has taken the retail world by The Bass Pro Shop is expected to open in February 1999 and the hotel is expected to open in May 1999 Quinn shifts gears Former Zimmer and Roll commercial real estate broker Dan Quinn has shifted focus Quinn who a couple of years ago started Quinn Real Estate Ser has started building a 330-room Embassy Suites next to the Bass Pro Shops Outdoor World retail store also under construction near Grapevine Mills Mall in the DallasFort Worth area When complete an indoor walkway will connect the hotel to the 160000-square-foot Bass Pro Shop have known John Hammons for a number of years since both of us live in the Springfield Missouri said John Morris IBM Building owners face off over property Skyrocketing prices of NY real estate push value to $500 million Offices for Loom UN2 Investment Property Business Property fori Business Property 1 104 1105 1000 lOPOOsf Mldtowa 1 stv brick 19000 wtijj Indeed dock Dl ff6wjantfar- ACRES-ln NE MO Si It mobile home part wW rentals nousexc Bloomberg News I AC ml In 50 tracts In DUPLEX: BR renovated Perfect for owner occupy CaUDanna Sprr S07-07ij Eugene RICK Shawnee 62 BRICK DUPLEX Modern Industrial Space ir to KA 700-1700 sqft Gd vlsablllty ample parking From 1395 5)1-4144 Convenience jNDEP 1 Pi i fenced ard AC i0r Income oss owner fin StiatO RENTALS acres ML SmT North of Springfield Store Is operator rsa WXM added Recently living quarters SlfyuO Dry Call it 1800-743- I Inventory Huff at 1 RAYTOWN OFFICES 1 72-2000 sqft Great KKaflonwpo Ina 6220 gjoe Ridge Cl tf Business Property For LenSe 1080 Healty08' Kllr Call Debbie PRUDEN TJ AL Gaslight 229-M InvestoeiDrearn-Sofne Owner Financing Available ul Flood Rltv OZARK RESORT MAIN Water BarRestaurant marina mpfelv rentals campgro Come enla Midtown 1 (ty brick ML OLATHE RETAIL 5)1-4144 ers should think about However another owner developer Edward Minskoff said he had no intention of selling hired Eastdil for one single purpose and that is to evaluate their own said Minskoff a former executive of bankrupt Olympia York Developments Minskoff added that he is the managing general partner of the partnership owning the building and that Odyssey owns a than 50 percent with no power to influence a sale The third owner is the Ohio State Teachers Retirement System a pension fund that owns more than 50 percent of the property we own is for sale at the right said Herbert Dyer executive director of the fund Odyssey founded by former Op-penheimer Co executives Leon Levy and Jack Nash declined to comment Eastdil officials also declined to comment Odyssey and Minskoff bought the 1 million-square-foot IBM Building in May 1994 from International Business Machines Corp just as the market was starting to show signs of recovering IBM sold the property amid a round of cost cutting The Ohio State Teachers pension fund was brought in as a partner in early 1995 Today IBM leases about a third of the space PRDI Warehouse Space I or Lease 10dJ Offices Foi Lease Apts For Sole 1106 of rscontlv NEW YORK The 43-story IBM Building one of New premier office towers is at the center of a struggle among owners seeking to take advantage of surging real estate prices that have pushed the value to $500 million The black glass-and-steel building at 57th Street and Madison Avenue located in the heart of high-end retail shopping district and surrounded by such shops as Chanel Hermes and Tiffany now is worth more than double the $200 million the owners paid four years ago brokers estimate One of the owners the Odyssey Partners investment group is pushing for a sale and has hired real estate investment bank Eastdil Realty Inc to value its stake in the building Odyssey hopes the building will command even better prices than those recently paid for other well-known properties such as the Chrysler Building and One Penn Plaza market is out of said Woody Heller a senior broker at Jones Lang Wootton USA omovoun exclv 108 UNITS-KCI Moshlrl Ri ilaiMm office space qnd service provl BH441 4500 sq ft office Investment Property 1 10b MM FTMM NO 5tn Hr olouator dock AITMCH-VIVIM and vlsoblllrv 4sq ft 111-4144 l-)5 511-444 UAL ESTATE FOE SALE Use Star Ads Want Two newer 4-plexes KU Med -u.