Comfort Suites Rochester, NY
2085 Hylan Dr, Rochester, NY 14623
PROPERTY SUMMARY
Opportunity
- Leasehold interest in the institutionally owned and third-party managed 65-room Comfort Suites Rochester, NY
- Offered at a significant discount to replacement cost
- Available for purchase unencumbered of debt and management in the October 8th auction event via Ten-X
- Ability to retain the Comfort Suites flag for a new long-term franchise agreement, subject to completion of the PIP and franchise approval
- Opportunity to better penetrate the comp set and reposition the asset upon completion of the PIP and transition to new more hands-on ownership
Location
- Ideally located right off Interstate 390 with over 88,000 vehicles passing the location daily
- Proximate to all area corporate demand, including corporate headquarters for Constellation Brands, Wegmans Food Markets, Paychex, Eastman Kodak, Monro, Inc., ESL Federal Credit Union, Rochester Gas & Electric Corporation, Gleason Works, and Zweigle’s
- Easily accessible to all area leisure demand, including Joseph A. Floreano Rochester Riverside Convention Center, Blue Cross Arena at the War Memorial, Innovative Field, Kodak Center Theater, George Eastman Museum, Seneca Park Zoo, and Seabreeze Amusement Park
- Strategically positioned near all healthcare demand, including University of Rochester Medical Center – Strong Memorial Hospital, Highland Hospital, Rochester General Hospital, and Unity Hospital
- Close to Rochester’s leading academic institutions, including University of Rochester, Rochester Institute of Technology, Nazareth University, St. John Fisher University, and Monroe Community College
Market Developments
- Rochester is experiencing unprecedented development with several projects underway to improve and revitalize downtown, including the ROC - the Riverway initiative to spur economic growth, enhance public spaces, and improve access to waterfront amenities
- Amazon opened a $512M, 2.6M SF state-of-the-art fulfillment center last year in nearby Gates, and a $75.6M 280k SF facility in nearby Ogden is scheduled to open in 2025
- QED Technologies International is planning an $18.7M expansion to its current facility on University Avenue in Rochester
