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He said his group has not decided how to develop the vacant land surrounding the hotel and homes they bought from Jerry and Linda Gagliardi, who lived on the property and built and operated the Sleep Inn franchise with their son, Ciro. Most of the land is zoned for office, research and industrial uses, Schwartz said.
Happy with the sale
Jerry Gagliardi confirmed the sale on Thursday, telling a reporter by text that the property couldn t (have) went to nicer people and wishing the buyers luck. They have a beautiful hotel and a beautiful piece of property, he said.
A real estate prospectus circulating more than a year ago had pitched the entire property, including the 82-room hotel, for $25 million. At the time, Gagliardi had denied the hotel was for sale and called the prospectus an unsolicited pitch by real estate agents. But he acknowledged he and his wife were trying to sell the adjacent 85 acres where their 9,485-square-foot home was located, saying they planned to downsiz