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Fairfield Inn & Suites in Manchester, CT – Image Credit JLL
Fairfield Inn in Manchester, Connecticut, is up for sale, offering investors a property in one of the most visited retail areas in the U.S.
The Fairfield Inn & Suites, located at 121 Pavilions Drive in Manchester, Connecticut, is currently listed for sale by Jones Lang LaSalle Americas, Inc. (JLL). The property operates under a triple net (NNN) ground lease with approximately 20.5 years remaining on the lease term. The lease includes rent escalations of 7.5% every five years, with three ten-year renewal options, except for a 5.0% increase in the first option.
Location and Retail Environment
The hotel is situated in Manchester’s primary retail area, which boasts over 6 million square feet of retail space. This location is noted for its high visitor traffic, with over 11.6 million visits annually, making it the most visited retail node in Connecticut and placing it in the top 4% of retail nodes nationwide, according to Placer.ai. The area features a range of national retailers, including Walmart, Costco, The Home Depot, Hobby Lobby, Target, Whole Foods, and ALDI.
Financial Details
The asking price for the Fairfield Inn is $2,421,000, with a net operating income (NOI) of $115,000. The property spans a net building area of 50,000 square feet. Originally built in 2000, the hotel underwent renovations in 2010. The upcoming rent increase is scheduled for January 2026.
Management and Brand
The Fairfield Inn is managed by JNR Hotels, a hospitality owner and operator based in the Northeastern United States with over 30 years of team experience. The Fairfield Inn brand is owned by Marriott, one of the world’s largest hotel operators, with over 9,300 locations and a ‘BBB’ credit rating from Standard & Poor’s.
Investment Highlights
The sale of the Fairfield Inn presents several attractive investment features. Its location in a highly trafficked retail area ensures a steady flow of potential guests. The long-term NNN ground lease offers stability, with rent increases providing potential for revenue growth. The management by experienced operators, combined with the backing of a globally recognized hotel brand, adds to the property’s appeal.
Demographics
The surrounding area boasts strong demographics, with an average household income of approximately $120,000 within a five-mile radius. This economic backdrop supports the hotel’s viability and potential profitability.
Inquire at JLL.
