Listing Agents
Michael Sheppard
T | 505.515.1850
msheppard@paramountlodging.com
Brent Clemens
T | 312.402.2959
bclemens@paramountlodging.com
Detailed Information
Location
Property Highlights
- Fee simple interest in the 110-room Residence Inn by Marriott Albuquerque Airport
- Institutionally-owned and available unencumbered by management
- Asset is being offered for sale through a traditional marketing process
- Strong in-place yield and +$100 RevPAR
- Upscale, premium-branded extended stay asset
- Ability to retain the Marriott flag with a new long-term license upon completion of the change-of-ownership PIP
- Less than 1 mile from the Albuquerque International Sunport (over 5MM visitors last year), presently undergoing a $90MM +/- renovation
- Located minutes from the main campuses of Central New Mexico Community College and the University of New Mexico, the state’s largest university
- Less than 1 mile from major sport / event demand venues The Pit, University Stadium and Isotopes Park (Minor League Baseball)
- Proximate to major healthcare demand, including the New Mexico Veterans Hospital, Presbyterian Hospital, the University of New Mexico Hospital, Lovelace Medical Center and Lovelace Heart Hospital
- Strategically positioned relative to local and regional corporate demand including Sandia National Labs, Maxeon Solar Technologies (new), Netflix ABQ Studios, Star Scientific (new) and NM Scientific Laboratories
- Less than 1.5 miles from Interstate 25, the primary north/south thoroughfare with an average of over 150,000 vehicles passing the intersection of I-25 and Gibson Blvd. daily
- Ideal time to invest in New Mexico’s most populous city (MSA population just under 1MM) amidst major investment by companies including Facebook, Amazon and Netflix