Fraser Forbes Company Brokers $12 Million Springfield Holiday Inn Site
5/30/2007
After nearly two years of planning and entitlement, Mark Anstine, Executive Vice-President of Fraser Forbes Company, represented the purchaser in the transaction of sale for the Springfield Holiday Inn. The hotel represents one of the anchor sites for a mixed-use town center in the heart of the Springfield Revitalization District. Located near the intersections of I-95 and the highly recognized Springfield Mixing Bowl state highway project, the 220-room hotel will be incorporated into a new urban-style landscape development. The project is currently proposed as 800 multi-family residential units, 100,000 square feet of retail space, 40,000 square feet of office uses and a 5,000 square feet community/plaza area that will be pedestrian friendly.
KSI Services will develop the property in accordance with the recently adopted Fairfax County zoning code known as PRM- planned residential mixed-use. This development has been described as a traditional planned unit development- built vertically. Anstine, who has been with Fraser Forbes Company for 10 years, has had a long standing relationship with KSI Services. The Springfield Holiday Inn represents one of approximately 10 transactions that have been completed involving Fraser Forbes Company and KSI Services. "As a buyer or seller, KSI is always a reliable and responsible entity to work with. It makes getting to the finish line much smoother and easier on all parties," states Anstine.
