Hotels for Sale

COURTYARD PITTSBURGH MONROEVILLE, PA

Address:
Monroeville, Pennsylvania
Description:
  • Fee simple interest in the institutionally owned and third-party managed 98-room Courtyard Pittsburgh Monroeville with the ability to retain the Courtyard flag via a long-term relicense agreement with Marriott
  • Property offered for sale through Ten-X during the December 11th auction at a large discount to replacement cost and unencumbered of debt and management
  • Walk-in in-place yield for a prospective buyer and property is performing at an average +140% RevPAR index over the trailing 36-months
  • Easily accessible via the intersection of Interstate-376 and Interstate-76 with upwards of 100,000 cars passing the location daily
  • Within two miles of some of the area’s largest employers including the 312-bed University of Pittsburgh Medical Center East (UPMC) and the 315-bed Forbes Hospital Allegheny Health Network (AHN), which is currently underway with a brand-new $35MM cancer center expansion
  • Approximately 14-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, placing Pittsburgh in top-ten ranking nationally for tech related investments
  • 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 2018 for Pittsburgh International Airport

Listing Agents

Omari Head
T: 773.315.5704
Email

Bennett Webster
T: 312.239.0560
Email

Categories List:      

Send message to listing owner