Detailed Information
Location
Property Highlights
- Fee-simple interest in the 129-room Red Roof HomeTowne Studios Fresno West, CA
- Strong historic performance with trailing 36-month average occupancy of nearly 78%
- Asset is institutionally owned and third-party managed affording prospective regional owners strong operational upside
- Offered unencumbered of brand (with minimal LD’s), debt, and management with a variety of alternative brand options available for conversion, or the ability to relicense under the existing flag
- Product type with fully equipped kitchens is ideal for potential residential conversion or other alternative use pending zoning and municipality approval
- High-margin business model is ideally well-positioned for any forward-looking economic contraction, given limited labor requirements with no sales department or food and beverage offering
LOCATION SUMMARY
- Well located within the Shaw commercial corridor and readily accessible via the Golden State Highway with nearly 172,000 vehicles passing the location daily
- Asset is proximate to all core downtown Fresno demand including – Fresno Chaffee Zoo, Chukchansi Baseball Stadium, and Downtown Fresno
- Fresno is a regional healthcare epicenter and home to numerous larger hospitals and specialty treatment faculties including Saint Agnes Medical Center, Valley Children’s Hospital, and Kaiser Permanente
- The Fresno area is one of California’s core agricultural hubs and is one of the fastest growing counties in the state
- Fresno County is the top agricultural-producing county in the US with nearly $8.0B in annual agricultural output and approximately $2.5B in additional output from related industries
- Opportune time to be investing in the Fresno market with substantial infrastructure development underway – including the nearly $150MM Fresno Airport expansion and the nearly $67MM California Strategy Growth Council housing pilot program
- The city of Fresno will directly benefit from the nearly $130B California High Speed rail project connecting Los Angeles to San Francisco