Listing Agents
Lora Simpson
T | 515.729.4516
lsimpson@paramountlodging.com
Adam Montufar
T | 515.446.4181
amontufar@paramountlodging.com
Detailed Information
Location
Property Highlights
- Fee simple interest in the institutionally owned and third-party managed 62-room Fairfield Inn Topeka, KS
- Property will be auctioned in the May 3rd event on Ten-X
- Asset is available for individual purchase as part of a six-property portfolio
- Ability for qualifying franchisees to retain the Fairfield Inn by Marriott flag through a new long-term license upon completion of the PIP
- Strong residual upside in transitioning away from national, institutional ownership to a regional Midwest owner with greater economies of scale
- Adjacent to and readily accessible via Interstate 470 with upwards of 30,000 vehicles passing the location daily
- Convenient to all broader Topeka demand, including West Ridge Mall, the Kansas State Capitol Building, Stormont-Vail Hospital, Washburn University, and the $100MM Wheatfield Village mixed-use development
- Topeka is the state capital of Kansas, located directly west of the Kansas City MSA and its population of ~2.17MM residents. Topeka ranked 4th in Wallstreet Journal’s Realtor.com 2023 Emerging Housing Market Index, which identifies top metros with an appreciating housing market, strong local economy, and appealing lifestyle amenities
- Optimal time to be investing in Topeka alongside several projects including the $125MM Goodyear Tire & Rubber Co., and $175MM Mars Wrigley, manufacturing plant expansions, among several others