Kansas Firm Buys Site for Hotel
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Hotel Corp. of Wichita, Kan., has bought 8.62 acres of land at the southwest corner of La Jolla Village and Gilman drives, La Jolla, for $9 million from the J. W. Jones Co. of San Diego.
The buyer plans to start construction immediately on a 288-room executive-suite hotel to be named the Residence Inn. It will be the company’s first such project in San Diego County.
The Jones firm was represented by Coldwell Banker Commercial Real Estate Services in downtown San Diego, and the buyer by L. William Johnson & Associates of Atlanta.
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