News: Front Section
Posted: September 2, 2016
Holliday Fenoglio Fowler closes sale of hotel development site
Burlington, MA According to Holliday Fenoglio Fowler, L.P.,(HFF) it has closed the sale of a hotel development site within the 3rd Ave. development.
HFF marketed the property on behalf of the seller, Nordblom Company.
The development site is located on a “gateway” parcel within 3rd Ave, an urban, retail-walking street lined with restaurants, cafes, retail boutiques and other service amenities connected via pedestrian walkways and public green space. This was a strategic sale for 3rd Ave. as it will bring a 147-room boutique hotel under the Archer brand that will be positioned as the highest quality hotel in the area lodging market.
The Archer brand is a new collection of boutique hotels that evokes the creative soul of its location with quirky, curated luxuries and a sincere staff dedicated to service. The Archer’s location within Burlington’s office corridor will provide steady demand from business travelers and its proximity to I-93/Rte. 128, about 12 miles northwest of Boston, will draw in tourists seeking a unique boutique hotel experience.
The HFF investment sales team representing the seller was led by managing director Denny Meikleham and director Alan Suzuki.
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