Investment Overview

Marcus & Millichap is pleased to offer a fee simple interest in the 124-unit Econo Lodge located in Chambersburg, Pennsylvania. Each unit is equipped with free wi-fi, a flat screen TV, a microwave, a refrigerator, a desk with chair, and a private bathroom. Guests can take advantage of the free on-site parking that accommodates oversized vehicles, complimentary continental breakfast each morning, a 24-hour front desk, a business center with fax and copy machine, vending machines, and on-site laundry facility.   The Econo Lodge is conveniently located off the heavily trafficked Interstate–81 in Chambersburg, Pennsylvania. While farming and agriculture industries have historically been the main economic drivers of Franklin County, the manufacturing industry has become a heavy contributor to the local economy. Chambersburg is an ideal location for businesses as it is situated within a 100-mile radius of Baltimore and Washington, DC; a 150-mile radius of Pittsburg and Philadelphia; and within 500 miles of half the US population. Over the years, the Chambersburg Area Development Corporation has successfully invested in the local community through the development of four business and commercial parks that now provide over 3,000 jobs for the local community. Chambers-5 Business Park is a 350-acre park completed in 2008 and houses more than 30 locally and nationally known businesses that employ nearly 1,600 people. CADCO Industrial Park is home to approximately 20 businesses and provides over 300 local jobs. Cumberland Valley Business Park, approximately 7 miles from the subject property, is a 1200-acre business park and home to hydraulic cylinder manufacturing company, Burnside America. In fall of 2023, Burnside America announced their $4.8 million dollar expansion plan that will create 15 new jobs. Burnside America also received a $3.3 million Pennsylvania Industrial Development Authority Loan with a $20,000 workforce development grant to train workers from the Department of Community and Economic Development. Corrugated Partners Group, a manufacturing company that produces materials for boxes, has invested $52.7 million to build a 42,000 square foot facility that will create over 80 jobs upon completion in three years. The facility is situated just over a mile from the subject property. In addition to the growing manufacturing scene, Chambersburg is also home to Wellspan Chambersburg Hospital, a 285-bed hospital with patient revenues exceeding $1.3 billion just 2.3 miles from the hotel. There are also a handful of higher education institutes, such as Wilson College, a private institution with over 1,500 undergraduate and graduate students as well as Shippensburg University, a public university with over 5,000 undergraduate and graduate students. The area is also known for its outdoor attractions such as Caledonia State Park, 10.7 miles from the subject property, and Whitetail Resort, 25 miles south of the Econo Lodge, located on Two Top Mountain known for its winter skiing. The subject property is easily accessible being directly off Interstate-81 and within a 90-minute drive of three major airports: Washington-Dulles International Airport (IAD), Baltimore/Washington International Thurgood Marshall Airport (BWI), and Harrisburg International Airport (MDT); as well as two regional airports; Franklin County Regional Airport and Hagerstown Regional Airport making it easily accessible by car and plane.