JLL’s Hotels & Hospitality Group arranges sale of a 121-key hotel in Virginia
News release
20 June 2023
Hampton Inn & Suites Fredericksburg South trades
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WASHINGTON, D.C., June 20, 2023 – JLL Hotels & Hospitality Group announced today that it arranged the sale of the Hampton Inn & Suites Fredericksburg South, a 121-key hotel in Fredericksburg, Virginia.
JLL represented the seller, Sachs Companies Realty Investments.
The Hampton Inn & Suites stands five-stories tall on a 2.35-acre parcel. Amenities include an indoor swimming pool and hot tub, fitness center, guest laundry, business center and 1,890 square feet of meeting space,
Located at 4800 Market St., the hotel is strategically located at the intersection of I-95 and U.S. 1, halfway between Richmond and Washington, D.C. A 10-mile extension of the I-95 Express Lane extension through Fredericksburg is expected to be complete in late 2023, providing improved access between the two cities. The hotel is surrounded by numerous restaurants and retail establishments.
The JLL Hotels & Hospitality team was led by Managing Director Ketan Patel, Vice President Phil White and Senior Associates Robert Westerfield and Greyson Fewin.
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.
For more news, videos and research resources, please visit JLL’s newsroom.
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 $20.8 billion and operations in over 80 countries around the world, our more than 106,000 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.