Hotel Providence
139 Mathewson St, Providence, RI, 02903-1806, US
Asset Description
JLL’s Hotels & Hospitality Group, as sole and exclusive advisor, is pleased to present for sale the fee simple interest in the 344-room Hilton Boston/Woburn (the “Hotel” or “Property”). The Hotel benefits from a convenient location less than 12 miles north of Downtown Boston. The Property is located at the intersection of Interstate 95 and Interstate 93 in one of Greater Boston's leading corporate markets.
The area surrounding the Hotel includes various corporate tenants, such as Raytheon, Millipore Sigma, Samsung, and Axcelis. Additionally, the Hotel is in close proximity to Woburn’s Cummings Business Park, Woburn Village, and Anderson Regional Transportation Center.
Since 2018, the Property has received a significant capital investment of over $22.7 million ($66,000 per key). The Hotel benefits from Matadora, a unique wood-fired steak and Spanish tapas restaurant.
The Hotel offers investors the opportunity to invest in a highly amenitized full-service asset with in-place cash flow and upside as the high-barrier Boston market continues its post-covid corporate and group recovery.
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Attributes
Keys
344
Year built
1990
Year renovated
2018
Land area gross
7.98 acres
Building area gross
282,653 sf
Number of floors
7
Media
Investment Highlights
- Strategic Suburban Boston Location at Intersection of Boston’s Primary Highways
- Access to Diverse Demand Drivers in the Greater Boston Market
- Highly Amenitized Full-Service Hotel
- Leading Hilton Brand Affiliation
- Strong Historical Cash Flow with Upside
- Attractive Basis, Discount to Replacement Cost
- Fee-Simple, Non-Union, Unencumbered by Management
- Significant Value-Add Opportunities
Contact brokers
Hilton Boston/Woburn (0 Properties)
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Last updated
21 Oct 2024
