A property sale is another step toward a new Hyatt Studios extended-stay brand hotel in South Jacksonville.
Hines, a Houston-based global real estate investor and manager, sold the site planned for the hotel for $1.403 million May 16.
The exact acreage wasn't available May 20.
It is northeast of Gate Parkway and Village Crossing Drive in Southside Quarter.
3H Group of Chattanooga, Tennessee, bought the property through Jax Village Lodging LLC.
3H Group specializes in hospitality procurement, consultation and asset management.
Hines sold it through it S-15 Land Holdings LLC.
JEA issued a service availability request in August 2023 on part of a 6.3-acre site for a 122-unit Hyatt Studios.
A construction timeline has not been released.
Hines is the developer of Southside Quarter, a 105-acre development of apartments, town homes, retail and office space, including the McKesson Corp. Medical-Surgical building.
Hyatt Hotels, headquartered in Chicago, announced in April of 2023 that it was adding Hyatt Studios to its portfolio.
Its plan is for more than 100 properties to be developed beginning in 2023 and the first to be opened this year.
The Southside Quarter location would be its first in Jacksonville.
Hyatt Studios is not yet among the 10 brands in its portfolio listed on the Hyatt website.
Overall, Hyatt operates 25 brands, according to hospitalitynet.org.
“Hyatt Studios brand has gained significant interest, with approximately 200 deals in various stages of negotiation with both single-unit developers and multi-unit developers, including executed deals representing approximately 2,000 pipeline rooms across North America,” according to a Hyatt news release in January.
“This is a testament to the desire from both developers and guests for a Hyatt brand that can operate in secondary, suburban and tertiary markets alike.”
The website lists two Hyatt Studios scheduled to open in Mobile, Alabama, later this year, and one in Marysville, California, near Sacramento, in 2025.
Hyatt Studios are planned for Colorado, Illinois, Indiana, Kentucky, Maine, Mississippi, Tennessee, Texas and Ontario, Canada, according to the release.