Descrição

JLL's Hotels & Hospitality Group, as sole and exclusive agent for the owner, has been retained to offer for sale the fee simple interest in the 105-room Residence Inn Neptune Gateway Centre (the "Hotel" or "Property"). The Hotel is strategically positioned in a higher barriers market near the Jersey Shore within Monmouth County, benefiting from its status as the only extended-stay product within a five-mile radius. Located off Garden State Parkway Exit 100B on Route 66, this recently renovated (2024) 4-story wood frame structure represents the opportunity to acquire Marriott's premium extended-stay brand in a market with diverse and growing demand generators.

The Property captures demand from multiple robust sources, including extended-stay medical travel driven by Jersey Shore University Medical Center, corporate and crew lodging from the nearby Netflix Sound Studios—a major production facility currently under development—and transient drive demand from the Garden State Parkway corridor. Leisure demand is bolstered by the Property's proximity to Asbury Park and the Jersey Shore beaches in Belmar, located approximately 15 minutes away and serving as strong seasonal drivers. Additional demand stems from Monmouth University with its approximately 5,000-student enrollment and the Jersey Shore Premium Outlets located less than half a mile from the Hotel.

Monmouth County serves as a hub for key sectors including tourism and entertainment, boasting 27 miles of coastline, the PNC Bank Arts Center, and Monmouth Park racetrack. The Hotel's strong competitive positioning is evidenced by its trailing twelve-month RevPAR Index of 116.7 and market ranking of #2 out of 5 hotels in its competitive set. This institutional-quality asset with in-place cash flow and consistent revenues offers tremendous management upside in a market with additional growth potential from continued new development and increasing visitation performance.

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