Peterson to sell piece of Ashburn’s Commonwealth Center

The Peterson Cos. plans to sell off a 5.49-acre parcel at its Commonwealth Center in Ashburn to Wichita, Kansas-based WaterWalk, which is expected to build a 150-room extended-stay hotel there.

Jim Mertz, the Fairfax-based Peterson’s vice president of retail development, declined to disclose a price tag, but said that WaterWalk is under contract to buy the parcel and develop a 122,000-square-foot hotel. WaterWalk’s buildings offer furnished and unfurnished options for short or long-term stays. The Ashburn version is expected to cost $26.5 million.

WaterWalk spokeswoman Sherrill Carper said a construction start date has not been set but that the hotel will take between 14 and 18 months to build. The company has two buildings open, in Wichita and Denver, and nine more in the pipeline from Indianapolis to Charlotte, North Carolina to Minneapolis to Irving, Texas.

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