Fairfield Inn Tewksbury, MA

Listing Agents

Sean Banilivy
T | 516.456.7525
sbanilivy@paramountlodging.com

Mike Schlictman
T | 803.920.4173
mikes@paramountlodging.com

Detailed Information
Property Highlights

UNDER CONTRACT

  • Fee-simple interest in the institutionally-owned and third-party managed 126-room Fairfield Inn Tewksbury Andover in suburban Boston
  • Property offered for individual sale in the September 15th Ten-X auction event as part of a larger institutional Boston area portfolio sale
  • Subject Hotel is being sold individually, however, the 102-room Fairfield Inn Amesbury is being offered simultaneously, providing buyers the opportunity to purchase multiple assets and capitalize on strong operating synergies by owning two well-branded regional hotels serving different markets
  • Unencumbered of debt and management with the ability to retain the Fairfield Inn brand for an additional 10-year term relicense with Marriott
  • Nominal change of ownership PIP expected with seller pre-negotiated PIP with Marriott
  • Situated along Interstate-495 with more than 140,000 vehicles passing the location daily
  • Proximate to all local Tewksbury area demand including Raytheon Integrated Defense Systems (HQ), Thermo Fisher Scientific, Demoulas Super Markets (HQ), Tewksbury Hospital, Corning Life Sciences, Infineon Technologies, Worldwide Tech Services and Lowell Five Bank (HQ)
  • Tewksbury has been designated a Regional Technology Center Economic Target Area offering benefits to entice future development in the area
  • Tewksbury is home to four business parks encompassing 1.5MM square feet of R&D, office and light industrial space
  • Optimal time to be investing in Tewksbury as the City has been designated a Goldrated BioReady Community by the Massachusetts Biotechnology Council
  • Readily accessible to all broader Greater Lowell and neighboring demand including University of Massachusetts Lowell, Middlesex Community College, Merrimack College, Lowell General Hospital, UMass Lowell’s Tsongas Center, Smith & Nephew, and Straumann USA
Location