{"id":1004082679,"date":"2013-08-25T20:56:40","date_gmt":"2013-08-26T04:56:40","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=168767"},"modified":"2020-05-19T08:17:22","modified_gmt":"2020-05-19T16:17:22","slug":"value-place-plans-to-develop-six-extended-stay-hotels-in-cleveland-area","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/value-place-plans-to-develop-six-extended-stay-hotels-in-cleveland-area\/","title":{"rendered":"Value Place Plans to Develop Six Extended-Stay Hotels in Cleveland Area"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\">Value Place, the largest economy <a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/08\/5329_102680617988_5137795_n.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-168768\" title=\"5329_102680617988_5137795_n\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/08\/5329_102680617988_5137795_n.jpg\" alt=\"\" width=\"300\" height=\"191\" \/><\/a>extended-stay lodging brand in the nation, continues its rapid expansion across the United States and has now set its sights on Cleveland\u2019s metro area. The Wichita, Kan.-based extended-stay hotel brand already has three corporate properties in Mentor, Akron-Green and Avon, and plans to develop six more in the area over the next two years.<\/p>\n<p style=\"text-align: justify;\">Founded by renowned hotelier Jack DeBoer in 2002, Value Place is known for its policy: Customers pay for an entire week even if they stay just one night. Rates at the Avon, Green and Mentor hotels are between  $199 and $260 per week.<\/p>\n<p style=\"text-align: justify;\">Value Place is working with Cleveland-based brokers Greg Slyman and Jason Jarchow of Kelly &amp; Visconsi Associates LLC to explore possible sites in the area. It expects to start construction on the first property in January 2014. The four-story building will be located at Emerald Corporate Park and will feature 124 rooms. According to <a href=\"https:\/\/www.crainscleveland.com\/article\/20130816\/FREE\/130819858\" rel=\"nofollow\" ><em>Crain\u2019s Cleveland<\/em><\/a>, the construction of the first property will cost more than$6 million. Value Place will hire local construction companies for the six projects.<\/p>\n<p style=\"text-align: justify;\">&#8220;Value Place\u2019s operating model enables us to grow in any economic environment,&#8221; David Redfern, president of Value Place Development, said in a statement for the press. &#8220;Further expansion in the Cleveland market has the potential for consistently higher-than-average occupancy, as we offer a previously underserved demographic of guests with Value Place&#8217;s clean, safe, simple and affordable accommodations.&#8221;<\/p>\n<p style=\"text-align: justify;\">Value Place currently has 184 locations open in 32 states. Over the next three years, the company plans to buy land and build corporate-owned hotels in other areas, including Atlanta, Boston, Denver and southeast Florida.<\/p>\n<p style=\"text-align: justify;\"><em>Photo credits: <a href=\"https:\/\/www.valueplace.com\" rel=\"nofollow\" >Value Place<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Value Place, the largest economy extended-stay lodging brand in the nation, continues its rapid expansion across the United States and has now set its sights on Cleveland&rsquo;s metro area. The Wichita, Kansas-based extended-stay hotel brand already has three corporate properties in Mentor, Akron-Green, and Avon, and plans to develop six more in the area over the next two years.<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1584,21742],"tags":[39423,1815],"class_list":["post-1004082679","post","type-post","status-publish","format-standard","hentry","category-cleveland","category-latest","tag-cleveland","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Value Place Plans to Develop Six Extended-Stay Hotels in Cleveland Area - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/value-place-plans-to-develop-six-extended-stay-hotels-in-cleveland-area\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Value Place Plans to Develop Six Extended-Stay Hotels in Cleveland Area\" \/>\n<meta property=\"og:description\" content=\"Value Place, the largest economy extended-stay lodging brand in the nation, continues its rapid expansion across the United States and has now set its sights on Cleveland&rsquo;s metro area. The Wichita, Kansas-based extended-stay hotel brand already has three corporate properties in Mentor, Akron-Green, and Avon, and plans to develop six more in the area over the next two years.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/value-place-plans-to-develop-six-extended-stay-hotels-in-cleveland-area\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-08-26T04:56:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-19T16:17:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/08\/5329_102680617988_5137795_n.jpg\" \/>\n<meta name=\"author\" content=\"Adrian Maties\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/value-place-plans-to-develop-six-extended-stay-hotels-in-cleveland-area\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/value-place-plans-to-develop-six-extended-stay-hotels-in-cleveland-area\\\/\"},\"author\":{\"name\":\"Adrian Maties\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/6dfc8d1c9006c9fd1c89d69133130109\"},\"headline\":\"Value Place Plans to Develop Six Extended-Stay Hotels in Cleveland Area\",\"datePublished\":\"2013-08-26T04:56:40+00:00\",\"dateModified\":\"2020-05-19T16:17:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/value-place-plans-to-develop-six-extended-stay-hotels-in-cleveland-area\\\/\"},\"wordCount\":290,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/value-place-plans-to-develop-six-extended-stay-hotels-in-cleveland-area\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2013\\\/08\\\/5329_102680617988_5137795_n.jpg\",\"keywords\":[\"Cleveland\",\"National\"],\"articleSection\":[\"Cleveland\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/value-place-plans-to-develop-six-extended-stay-hotels-in-cleveland-area\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/value-place-plans-to-develop-six-extended-stay-hotels-in-cleveland-area\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/value-place-plans-to-develop-six-extended-stay-hotels-in-cleveland-area\\\/\",\"name\":\"Value Place Plans to Develop Six Extended-Stay Hotels in Cleveland Area - 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