TownePlace Suites by Marriott Findlay, OH

Listing Agents

Brent Clemens
T | 312.402.2959
bclemens@paramountlodging.com

Andrew Makhlouf
T | 312.610.9067
amakhlouf@paramountlodging.com

Mike Schlictman
T | 803.920.4173
mikes@paramountlodging.com

Detailed Information
Property Highlights

UNDER CONTRACT

  • Fee simple interest in the lender involved institutionally owned, and third party managed 85 room TownePlace Suites by Marriott Findlay, OH
  • Property offered for individual sale in the July 28th auction, as part of a larger three property distressed portfolio sale
  • Offered unencumbered by debt and management with the ability to retain the Marriott flag upon completion of the PIP
  • Upscale, premium-branded Marriott extended stay asset
  • Pre-covid trailing 24 month occupancy of +82% with average pre-covid trailing 24 month operating margins in excess of $780k
  • Significant operating improvements prospects following completion of Marriott PIP and transfer to new ownership following lender-controlled sale
  • Readily accessible to Findlay Village Mall, Whirlpool’s manufacturing and distribution center, Best Buy’s Distribution Center, Lowe’s distribution center, and Campbell’s Soup Company distribution center
  • Proximate to all broader Findlay area demand including downtown Findlay, Cooper Tire & Rubber Company Headquarters, Marathon Petroleum Company Headquarters, Findlay Village Mall, The Children’s Museum of Findlay, University of Findlay, Flag City Sports Complex, and Blanchard Valley Hospital
  • Less than three miles from Amazon’s new 100,000 SF distribution center set to open Summer 2021
  • Findlay recently named top ‘micropolitan community’ in the United States by Site Selection Magazine with over 3,000 new jobs, 1MM SF of construction, and $1BB of capital investment over the last four years

 

Location