Hotels for Sale

SpringHill Suites Pittsburgh Airport

Address:
Pittsburgh, Pennsylvania
Description:

UNDER CONTRACT

  • Fee Simple interest in the bank-owned and receiver managed 102-room SpringHill Suites Pittsburgh Airport
  • The property is concrete construction and is offered for sale at a substantial discount to replacement cost and unencumbered of debt and management
  • Substantial operational upside with the property under lender control since early 2017
  • Plans are well underway for a $1.1B airport renovation and modernization to better accommodate preferred passenger routes and expand European routes following nearly +8% passenger growth in 2017 for Pittsburgh International Airport
  • Ideally located within the heart of the airport corridor and within walking distance of numerous nationally recognized restaurants and retail establishments, including Ikea and the 872,000SF Mall at Robinson Town Center
  • Property is readily accessible to Interstate 376 and US Route 22 with upwards of 90,000 cars passing the location daily
  • Situated approximately ten miles from downtown Pittsburgh and proximate to all regional demand including the University of Pittsburgh, Carnegie Mellon University, Heinz Field, PNC Park, the Pittsburgh Convention Center, and Pittsburgh International Airport
  • Optimal time to invest in the Pittsburgh MSA with strong growth in the budding tech sector including nearly $700MM of tech related area investments in 2017, placing Pittsburgh in the top-ten ranking nationally for tech related investments
  • Approximately 11-miles from downtown Pittsburgh and proximate to all regional demand including the University of Pittsburgh, Carnegie Mellon University, Heinz Field, PNC Park, the Pittsburgh Convention Center, and Pittsburgh International Airport

Listing Agents

Omari Head
T: 773.315.5704
Email

Bennett Webster
T: 312.339.3698
Email

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