SAINT ROSE, Louisiana—Marcus & Millichap introduced the sale of the Consolation Inn New Orleans Airport South, a 68-room lodge in Saint Rose, Louisiana.
“The advertising course of generated sturdy curiosity, leading to six aggressive presents,” mentioned David Altman, managing director, Investments. “Whereas a number of native patrons pursued the chance, the eventual purchaser was a gaggle of out-of-state traders from Indiana, underscoring the broader attraction of this asset and the depth of demand for well-located airport inns.”
David Altman and Jeff Halavacs, in affiliation with Steve Greer, Marcus & Millichap’s dealer of document in Louisiana, represented the vendor, Siddiqui Enterprises LLC, and procured the client, NOLA Airport Hospitality LLC.
“The client recognized a transparent alternative to create extra worth by a renovation and a change in administration,” mentioned Jeff Halavacs, funding affiliate. “With sturdy underlying demand from the airport and surrounding industrial hall, the asset presents significant upside past its in-place efficiency.”
Inbuilt 2010, the three-story Consolation Inn is 5 miles from Louis Armstrong New Orleans Worldwide Airport. The lodge’s facilities embody an airport shuttle, complimentary breakfast, health middle, enterprise middle, and assembly amenities. The property is located close to James Enterprise Park and Magnolia Film Studios, with extra demand pushed by close by industrial and logistics employers.
