DeBartolo Development, LLC, announced today it recently acquired the Holiday Inn Express at 380 Commercial Court in Venice, Fla., as part of our strategy to pursue real estate assets that are undervalued but present attractive growth opportunities.

Initially constructed in early 2009 for $7.5 million, DeBartolo paid $3.5 million in a joint venture for the limited service hotel property adjacent to Interstate 75. Located between Tampa and Naples, the four-story Holiday Inn Express is just around the corner from the world-famous 14-mile stretch of beach on the Gulf of Mexico commonly known as "The Shark Tooth Capital of the World.”