News: Northern New England

Wason Assoc. Hospitality Real Estate Brokerage negotiates sale of 80-room Holiday Inn Express to OS&S Keene, LLC

Wason Associates Hospitality Real Estate Brokerage Group brokered the sale of a Holiday Inn Express located at 175 Key Rd. to buyer OS&S Keene, LLC from seller Keene Inn, Inc. The transfer was finalized on May 8. The Holiday Inn Express consists of 80 impeccably maintained rooms remodeled in a recent $1 million renovation. The property is located a few blocks from downtown and Keene State College. As one of the best hotels in the southwestern part of New Hampshire, the Inn benefits from numerous local business, corporate, and leisure activities. The property has been exceptionally well-managed over the past 14 years by Linchris Hotel Corp. The extensive remodeling renovation the Inn underwent was per an agreement with InterContinental Hotels Group (IHG), the owner of the Holiday Inn Express name. The buyer also negotiated the continuation of the franchise rights to the Holiday Inn Express name. Colwen Hotel Management will oversee property operations for the buyers. Colwen now maintains a portfolio of 20 hotels under a variety of brands. This will be the third hotel in the Keene market managed by Colwen. Wason Assoc. team members Earle Wason, Joe Cardillo, and Peter Annon engaged in various aspects of the negotiations of the Holiday Inn Express sale and managed the transaction until the transfer of title date. "We are very pleased by the recent negotiations of the Holiday Inn Express in Keene," said Wason, president. "It is a fine property that has been well managed over the years, and recent renovations made it an exceptional piece of real estate to be purchased. We are thrilled that Wason Associates continues to facilitate the successful transfers of hospitality properties during these challenging economic times."
READ ON THE GO
DIGITAL EDITIONS
Subscribe
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Quick Hits
STAY INFORMED FOR $9.99/Mo.
NEREJ PRINT EDITION
Stay Informed
STAY CONNECTED
SIGN-UP FOR NEREJ EMAILS
Newsletter
Columns and Thought Leadership
Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents<br> the First Annual Project of the Year Award! Vote today!

The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!

The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein

Investing in a falling rate environment - by Harrison Klein

Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary