We find ourselves in the middle of one of the greatest wealth transfer periods of all time. Those with wealth must decide whether they want to make transfers, and if they do, they must decide how much, to whom, when and in what structure?
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The two-story Cobblestone Inn and Suites is slated for a November opening, and will include a 50-person meeting room and exercise room as well as a breakfast bar that converts to a full-service bar in the evening.
Bob Brunner and partner Scott Renfroe, who owned the land together, are among an Eaton Hotel LLC ownership group that also includes a few other local investors as well as Cobblestone Inn and Suites, a Wisconsin-based chain with hotels sprouting up throughout the Midwest. Eaton Hotel LLC recently bought the three-acre site for $217,000, with Cobey Wess and Dan Leuschen of Sperry Van Ness/The Commercial Group LLC brokering the deal.
Wess said the first hotel for Eaton, population 5,500, “will be a good fit for all of the oil and gas workers and activity in that area.”
Brunner said the cost of the project will be about $3.9 million. Wisconsin-based BriMark Builders, which has an ownership stake in Cobblestone, is doing the design and construction of the hotel.
The Maplewood Shopping Center opened in 2005, and Brunner said there are still five available commercial lots between the shopping center and hotel site available for development.