Overview

Description

RI Marketplace Online Auction May 6-8, 2024
Register to Bid on Marketplace:

https://rimarketplace.com/auction/1890/extended-stay-america-auburn-hills-mi?utm_source=brevitas&utm_medium=listing&utm_campaign=hospitality_1890


Paramount Lodging Advisors, in conjunction with RI Marketplace, is pleased to offer fee-simple interest in the corporate owned and corporate managed 139-room Extended Stay America (ESA) Auburn Hills, MI. Ideally located within the Detroit MSA, proximate to all regional demand including, General Motors Headquarters, Ford Headquarters, Detroit Defense Corridor, DTE Energy Music Theater, downtown Detroit, Little Caesars Arena, Ford Field, and Detroit Metropolitan Airport. This is the optimal time to capitalize on the counter-cyclical growth of the Detroit Metropolitan Area on the heels of expansive late-cycle growth across the region and the continued renaissance of downtown Detroit – anchored by nearly $6BB of private and public investments in the past ten years.

Jerry Helmer, Auctioneer
MI License: 6504064915

Highlights

• Offered unencumbered of brand, debt and management – with a variety of alternative brand options available for conversion
• Product type with fully equipped kitchens is ideal for potential residential conversion or other alternative use pending zoning and municipality approval
• Located across I-75 from Stellantis North American Headquarters (Chrysler) which consists of over 500 acres and 5.4M SF of usable building space
• Situated less than two miles from Oakland University, the second-largest university in the Detroit MSA with an enrollment of over 15,000 students
• Extended stay economy product is widely revered as recession proof and remains a favorite investment sector amidst private and public investors
• Extended stay market grossly outperformed all other lodging sectors amidst the COVID recovery and is ideally well positioned for forward looking growth

Documents

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