Downtown El Paso's 300 E. Main office building soldDowntown El Paso's 300 E. Main office building soldhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=23562014-12-01T07:44:00Z2014-12-01T00:00:00Z

EL PASO - The 12-story office building, located adjacent to the future Hotel Indigo at 300 E. Main, has been sold to The Palace at Park Central.

The buyer is tied to Esperanto Developments, which is developing the Hotel Indigo. The seller is the Sullivan/Crosby Trust of Nevada.

The El Paso Appraisal District's latest appraisal has the 49-year-old building valued at $2.1 million. Workforce Solutions Upper Rio Grande operates an employment center on the building's ground floor and also has its administration offices on the eighth floor.

The Hotel Indigo, formerly the Artisan Hotel, and the office building share a parking garage. The 12-story hotel is in the midst of a $9 million renovation and will become part of InterContinental Hotels Group's national boutique brand.

Each Hotel Indigo is uniquely designed to reflect the culture and character of the surrounding neighborhood while including certain brand elements. The hotel is expected to open in 2015 with 115 to 120 rooms.

Esperanto is the hotel management and development arm of a family group which owns three other El Paso hotels, and several hotels in other areas of Texas.

El Paso Times
El Paso
http://www.elpasotimes.com/business/ci_26918426/downtown-el-pasos-300-e-main-office-buildingRead more at {Source}

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