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.