JLL’s Hotels & Hospitality group led sales efforts for the hotel in Pennsylvania
JLL’s Hotels & Hospitality group announced today that it arranged the sale of the 125-room Holiday Inn Express & Suites Pittsburgh-South Side in Pittsburgh, Pennsylvania.
JLL represented the seller and procured the buyer.
The Holiday Inn Express & Suites is situated on 1.73-acres at 20 South 10th St. The six-story hotel offers 600 square feet of meeting space, a fitness center, indoor pool and business center.
The property benefits from its exceptional location in Pittsburgh’s historic South Side, the city’s premier entertainment district situated across from downtown Pittsburgh. The hotel is in the heart of the city’s core social scene and is surrounded by a wide array of retailers, restaurants, upscale residential units and lifestyle shops. It is within three miles of the University of Pittsburgh, Duquesne University and Carnegie Mellon which, combined, boast a student population of over 52,000.
Pittsburgh is an acclaimed tourist destination as well as a top destination for large and small businesses from across the world. As evidenced by the Pittsburgh region’s outstanding track record of business and tourism-related accolades, the region is largely focused on expanding its economic development and tourism initiatives, which provide tremendous benefit to local hoteliers.
The JLL Investment Sales and Advisory team was led by Managing Director Ketan Patel and Vice President Phil White.
JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totalling $83 billion worldwide. The group’s 370-strong global team in over 20 countries also closed more than 7,350 advisory, valuation and asset management assignments. Our hotel valuation, brokerage, asset management and consultancy services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $20.9 billion and operations in over 80 countries around the world, our more than 103,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
