Fairfield Inn - Manchester, CT

121 Pavilions Drive, Manchester, CT, 06042, US

Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the Fairfield Inn & Suites located at 121 Pavilions Drive in Manchester, Connecticut (“Property” or “Asset”). Fairfield Inn is operating on a NNN ground lease with zero landlord responsibilities, ±20.5 years of lease term remaining, and 7.5% rent escalations every 5 years in each three (3), ten-year renewal option (except 5.0% in 1st option).

Located in Manchester’s dominant retail node with more than 6,000,000 square feet of retail space, the surrounding shopping centers generate more than 11.6 million visits annually and ranks as the #1 most visited retail node in Connecticut and in the top 4% of most visited retail nodes across the U.S. (Placer.ai). National tenancy in the retail node includes Walmart, Costco, The Home Depot, Hobby Lobby, Target, Whole Foods, and ALDI, among others.

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Attributes

Asking price

£1,803,000

NOI

£86,000

WALT

20.5 years

Lease type

Net lease (N/NN/NNN)

Building area net

50,000 sf

Year built

2000

Year renovated

2010

Media

Investment Highlights

Located in the #1 most visited retail node in Connecticut and in the top 4% of most visited retail nodes across the U.S.
±20-year NNN ground lease with rent increases of 7.5% every five years and three (3), ten-year extension options
Upcoming rent increase in January 2026
Managed by JNR Hotels, a Northeastern-based hospitality owner and operator with over 30+ years of team experience
Marriott, the owner of the Fairfield Inn brand, is among the largest hotel operators globally with 9,300+ locations and a 'BBB' credit rating from S&P
Strong demographics with a ~$120,000 average household income in a five-mile radius