Colliers International is marketing a Lancaster County
hospitality portfolio that includes Miller's Smorgasbord, Plain & Fancy
Farm and the AmishView Inn & Suites.
The asking price is not being disclosed though it's
"definitely in the millions," said George Lulos, senior vice
president.
The owner of the assets, Thomas E. Strauss Inc., a family
holding company, is looking to "take advantage of what we see as a
uniquely advantageous investment climate," he said. Interest rates are
low, a lot of buyers are in the market and the economy continues to improve.
"It's a momentum strategy to take advantage of the
upswing," Lulos said, expecting interest from local hoteliers and
restaurant operators, as well as national and international investors.
The three strong tourist attractions, which are split
between campuses on routes 30 and 340, are complemented by several specialty
retail shops and other attractions. That includes a theater, buggy rides and an
Amish farmhouse tour.
The hotel was recently expanded to 86 rooms from 44. LNP
reported the cost of that project at $6 million.
Source: Central
Penn Business Journal
No comments:
Post a Comment