BOSTON– Holliday Fenoglio Fowler, L.P. (HFF) announced that it has closed the sale of a hotel development site within the 3rd Ave development in the northern Boston suburb of Burlington, Massachusetts.
HFF marketed the property on behalf of the seller, Nordblom Company.
The development site is located on a “gateway” parcel within 3rd Ave, an urban, retail-walking street lined with restaurants, cafes, retail boutiques and other service amenities connected via pedestrian walkways and public green space. This was a strategic sale for 3rd Ave as it will bring a 147-room boutique hotel under the Archer brand that will be positioned as the highest quality hotel in the Burlington lodging market.
The Archer brand is a new collection of boutique hotels that evokes the creative soul of its location with quirky, curated luxuries and a sincere staff dedicated to service. The Archer’s location within Burlington’s office corridor will provide steady demand from business travelers and its proximity to Interstate 93/Route 128, about 12 miles northwest of Boston, will draw in tourists seeking a unique boutique hotel experience.
The HFF investment sales team representing the seller was led by managing director Denny Meikleham and director Alan Suzuki.