CBRE Hotels has been exclusively retained in connection with the solicitation of bids to acquire the fee simple interest in the 84-room Courtyard by Marriott located directly on State Route 161/16, west of downtown Newark, and east of Granville and New Albany, Ohio. The Courtyard is situated on 1.904-acre site with excellent configuration with prime access and visibility to State Route 16.
The Courtyard is situated in Newark, Ohio, a commuter suburb of Columbus, Ohio, the region’s economic and cultural core, and the hotel provides a central location to a diverse mix of local demand generators. The accessibility has been enhanced by the recent expansion of State Route 161 Corridor, facilitating major expansion of the Metro market on the east side of Columbus. Intel has invested $20 billion to build a chip manufacturing plant in New Albany, a 15-minute drive from the hotel. The new plant will bring in approximately 20,000 jobs.
Investment Highlights
- Interior renovated in 2020
- Close to new $20B Intel development
- YTD revenue up over $400,000 from 2021
- 2022 T-12 revenue exceeds 2019 and growing
- Easy access from OH -161
- 40 minute drive to Columbus
- All concrete prototypical Courtyard by Marriott hotel
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