Brand-new Monterey Park Holiday Inn & Suites Acquired by Private Investor for $38M
(Matt Gush - stock.adobe.com)
The brand-new Holiday Inn & Suites hotel located at 400 S. Atlantic Blvd. in Monterey Park was acquired by a private investor for $38 million, or $280,000 per unit. Coldwell Banker Commercial George Realty represented the seller.
The 136-room hotel was completed earlier this year. The building encompasses six floors and has 2,000 square feet of meeting space. It’s part of the Atlantic Times Square project, a development located south of I-10 close to the campus of Cal State Los Angeles. The area has been transformed from a low-rise industrial area to a thriving district with hotels, restaurants, condominiums and retail. It is anchored by a 14-screen AMC Theatres and 24 Hour Fitness.
