October 09, 2012 // Franchising.com // WILLISTON, N.D. – Nakota Development Company, a full-service real estate development and management company based in Jacksonville, Fla., announced today that it has officially opened its first Value Place location here. Nakota Chairman/CEO Art Cahoon officiated a September 25th Grand Opening ceremony attended by Value Place corporate executives, staff of the new property and representatives of the Williston Chamber of Commerce. The new two-building property is the first of multiple economy extended-stay sites that Nakota, a Value Place franchisee, plans to open in North Dakota’s Bakken region.
Cahoon approached Value Place about developing the region after observing companies flocking to North Dakota to participate in oil exploration. He found Value Place’s affordable extended-stay concept, combined with its franchise program, to be the best model to answer growing demand for temporary housing and facilitate expansion in the market.
“Williston and the entire Bakken region represent fertile ground for development of affordable extended-stay lodging,” said Cahoon. “Many businesses associated with the energy industry are amassing here, bringing a growing number of temporary residents to set up local operations and transplants moving here to run them who haven’t yet found a permanent home. Value Place offers such individuals a simple, safe, affordable and flexible solution to their lodging needs and will let us establish ourselves as the preferred affordable provider of extended-stay lodging and services. We’re very encouraged by the early signs here and are already commencing with development of our next property.”
The new Williston property will not only cater to those involved in energy exploration. Value Place is the perfect fit for any individuals, “away teams” or families who need affordable, long-term lodging. CEO Dan Weber said high demand from such individuals exists in markets throughout the United States, and Value Place is looking for more sophisticated partners like Cahoon to develop properties to accommodate them.
“Art Cahoon is part of a diverse group of smart, talented investors that have joined our franchise system,” said Value Place CEO Dan Weber. “Some of our franchisees are experienced hotel developers, while others are experts in outside industries, adding new perspectives that constantly help us progress. We feel we offer them a strong investment opportunity, a position that is highlighted by our recognition as a Top 50 Franchise by Franchise Business Review’s Franchisee Satisfaction Awards six times since 2004, and by USA Today in 2010 as a recession-resistant business. We look forward to welcoming others like Art into our system and to working together with them to help expand the Value Place Brand.”
Value Place has franchise opportunities available throughout the United States to qualifying investors. For more information, call (316) 630-5505, or visit ValuePlaceFranchise.com.
Founded in 2002, Value Place is an economy extended-stay lodging brand that features remarkably affordable weekly rates, rigorous cleanliness standards and secure temporary lodging with an unparalleled commitment to the comfort, privacy and peace of mind of each guest. Value Place currently has 178 locations open in 31 states. Since opening the first Value Place property in 2003, 50 franchise groups have committed to build over 300 properties by 2015. For more information, contact Value Place at (316) 630-â€5505 or visit ValuePlaceFranchise.com.
Nakota Development Company (NDC) creates a rewarding real estate development experience for its clients. The company’s project management, development, property management and leasing methods are underscored by a friendly hands-on, proactive, team approach. This philosophy enables NDC to be a partner who understands clients' objectives to optimize results. The NDC team's expertise and experience includes a broad range of real estate and construction ventures, including Hospitality, Office, Residential, Retail, Sports/Entertainment and Multi-Use projects. NDC prides itself on its ability to not only meet but exceed the expectations of its clients. For more information visit www.nakotadevelopment.com.
GRiP Communications LLC