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Acquest Realty Advisors, Inc.

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Acquest Opens Cutting-Edge Waterfront Sheraton Hotel in Erie, Pa.


Acquest Development, Inc. – a single source real estate developer specializing in hotels and conference centers – today joined Erie, Pa. city officials to open the new Sheraton Erie Bayfront Hotel and parking structure. The project, developed in partnership with the Erie County Convention Center Authority, features eight floors, 200 guestrooms, a 65 ft. pedestrian skywalk and an adjacent 300 space parking garage, all located on Presque Isle Bay.

Erie, PA, April 12, 2008 --(PR.com)-- Acquest Development, Inc. & Erie County Convention Center Authority Participate in “Grand Opening” of Waterfront Hotel.

Sheraton Erie Bayfront Hotel Features 200 Rooms, 65-Foot High Glass Skywalk and 300 Space Parking Garage.

Acquest Development, Inc. – a single source real estate developer specializing in hotels and conference centers – today joined Erie, Pa. city officials to open the new Sheraton Erie Bayfront Hotel and parking structure. The project, developed in partnership with the Erie County Convention Center Authority, features eight floors, 200 guestrooms, a 65 ft. pedestrian skywalk and an adjacent 300 space parking garage, all located on Presque Isle Bay.

“The Sheraton Erie Bayfront Hotel is truly a unique property, an excellent example of how public and private entities can come together to create a successful partnership with a lasting economic impact on the city,” said Joan Cleland, president, Acquest Development, Inc. “No where else but in the beautiful city of Erie could one experience a first class metropolitan hotel property in a quaint city setting.”

Surrounded by water on three sides, the full-service hotel’s guestrooms occupy the upper six floors and half of the second. In addition to housing an elegant lobby, the hotel ground floor boasts a grand stair to the second floor meeting spaces, lobby seating with a fireplace, a bar, dining room, spa and exercise room.

Located 65 feet above the high water level of the channel it traverses, the pedestrian skywalk features a deep steel truss design with glass walls, offering dramatic views of the bay and the city it overlooks. The skywalk serves as a public access, connecting the hotel, located on West Dobbins Landing, to the newly constructed Bayfront Convention Center Complex located on Sassafras Pier. Acquest also was involved in the development of the 136,000 sq. ft. convention center, which was completed this past summer.

Acquest will oversee management of the hotel in partnership with Merrillville, Ind.-based White Lodging Services Corp., who will handle the property’s day-to-day operations.

Acquest was awarded the development rights to the hotel project in 2004 by the Erie County Convention Center Authority. Construction began in spring 2006. Funding for the project was secured through a public/private partnership between State of Pennsylvania, City of Erie and private entities.

About Acquest
Acquest Realty Advisors, Inc. was founded in 1980 and for more than two decades has provided real estate services to major pension funds, corporate, institutional and public sector investors.

Acquest is a development management expert, specializing in the coordination of successful public-private partnership projects that bring lasting value to communities. Acquest has served as development manager for downtown revitalization developments in Fort Wayne, IN, a mixed-use project within Harrison Square to develop an urbanized Courtyard by Marriott in partnership with White Lodging; Trenton, NJ, working with the New Jersey Economic Development Authority, the City of Trenton and the State of New Jersey to build The Trenton Marriott Hotel and Conference Center, a full-service hotel in the only state capital city previously without one; Midland, MI and the creation of the H hotel (formerly the Ashman Court Hotel and Conference Center); Erie, PA and the development of the Sheraton Erie Bayfront Hotel and Convention Center and in Kingsport, TN with the development of the MeadowView Marriott Conference Resort and Convention Center.

For more information, visit www.acquestrealty.com.

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Contact Information
Acquest Realty Advisors, Inc.
Larry Jones
248-855-6777
Contact
www.acquestrealty.com
For media opportunities contact LJones@marxlayne.com

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