SAINT ROSE, Louisiana—Marcus & Millichap introduced the sale of the Consolation Inn New Orleans Airport South, a 68-room resort in Saint Rose, Louisiana.
“The advertising and marketing course of generated sturdy curiosity, leading to six aggressive provides,” mentioned David Altman, managing director, Investments. “Whereas a number of native patrons pursued the chance, the eventual purchaser was a bunch of out-of-state traders from Indiana, underscoring the broader enchantment of this asset and the depth of demand for well-located airport resorts.”
David Altman and Jeff Halavacs, in affiliation with Steve Greer, Marcus & Millichap’s dealer of file in Louisiana, represented the vendor, Siddiqui Enterprises LLC, and procured the customer, NOLA Airport Hospitality LLC.
“The customer recognized a transparent alternative to create further worth by way of 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 provides 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 resort’s facilities embrace 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 further demand pushed by close by industrial and logistics employers.
