- Premier Location: Located in Fort Wayne’s growing NW submarket, the hotel benefits from proximity to major employers, hospitals, universities, and logistics hubs.
- Strong Brand Affiliation: Available for a new 15-year license with IHG, offering brand recognition, loyalty program exposure, and long-term operational support.
- Proximity to Higher Education: Just minutes from Purdue University Fort Wayne, University of Saint Francis, and Indiana Tech, driving consistent academic and event-related demand.
- Major Corporate and Healthcare Drivers: Near Steel Dynamics, Sweetwater, General Motors, Parkview Randallia, and Lutheran Hospital, supporting steady weekday and extended-stay occupancy.
- Significant Market Performance: Fort Wayne submarket RevPAR increased 3.9% over 12 months, with a 143% RevPAR penetration index, highlighting strong competitive positioning.
- Leisure and Event Appeal: Close to Fort Wayne Children’s Zoo, Promenade Park, Parkview Field, Grand Wayne Convention Center, and Allen County War Memorial Coliseum.
- Excellent Transportation Connectivity: Direct access from I-69 Exit 311A and nearby Lima and Ley Roads, with Fort Wayne International Airport just 12.4 miles away.
INVESTMENT OVERVIEW
As the exclusive representative of the seller, Marcus & Millichap's Hospitality Division is pleased to present for sale to qualified investors the Candlewood Suites Fort Wayne - NW (‘Hotel’ or ‘Property’) located in Fort Wayne, Indiana.
The Candlewood Suites Fort Wayne – NW is a three-story, 83-room hotel located at 5251 Distribution Drive in Fort Wayne, Indiana. The property offers direct access from I-69 at Exit 311A and is also accessible via Lima Road and Ley Road. It features recently renovated suites with updated kitchens, new flooring, and modern furnishings. Amenities include a sundry shop, brand new guest lounge with a shuffleboard and TV, meeting room, fitness center, laundry facility, and business center.
As of July, the 12-month average RevPAR in the Fort Wayne Hotel Submarket increased by over 3.9 percent, indicating robust growth and a lower-risk environment, boosting investor confidence in the asset and thriving market. The hotel boasts a strong RevPAR penetration index of 143 percent for the twelve months ending in July 2025, signaling robust competitive performance and attractive long-term value for potential buyers.
Fort Wayne serves as the economic and cultural hub of the Fort Wayne–New Haven MSA, home to approximately 458,000 residents and a steadily expanding commercial base. The city offers strategic accessibility via Interstate 69, I-469, and U.S. Highways 30 and 24, complemented by growing air service through Fort Wayne International Airport (FWA – 12.4 miles). The airport recently completed its West Terminal Expansion and Rehabilitation (2023) as part of the multi-phase Project Gateway, which introduced modernized ticketing, improved passenger flow, and upgraded amenities. The East Terminal Expansion, currently underway and scheduled for completion in mid-2025, will add new gates, enhanced circulation, and additional concessions—significantly improving capacity and the traveler experience for both business and leisure segments.
The local economy is diverse and resilient, driven by advanced manufacturing, healthcare, logistics, financial services, and technology. Major employers include General Motors Fort Wayne Assembly (16.2 miles), Parkview Hospital Randallia (3.8 miles), Lutheran Health Network (10.1 miles), Sweetwater (4.0 miles), and Steel Dynamics (10.8 miles), ensuring steady weekday occupancy and project-related demand.
Higher education institutions such as Purdue University Fort Wayne (3.0 miles), Indiana Tech (4.5 miles), and the University of Saint Francis (3.9 miles) bring additional traffic through academic events, athletics, and family visits.
Healthcare is a core demand driver, anchored by Parkview Regional Medical Center (6.7 miles), a leading regional referral center with specialty institutes, Dupont Hospital (5.6 miles), and Lutheran Hospital (5.8 miles), a tertiary care facility and trauma center. These facilities generate consistent extended-stay demand from patients, families, and medical professionals.
Leisure and group demand remain strong, supported by attractions like Promenade Park (3.7 miles), the Fort Wayne Children’s Zoo (2.3 miles), Embassy Theatre (4.2 miles), Parkview Field (4.1 miles), Glenbrook Square Mall (1.1 miles), and Science Central (3.6 miles). Major venues such as the Grand Wayne Convention Center (4.2 miles) and Allen County War Memorial Coliseum (2.2 miles) accommodate conventions, sporting events, and consumer shows, contributing to regular compression periods for area hotels.
Fort Wayne’s future growth trajectory is underscored by transformative redevelopment initiatives:
- North River District – A $1.5 billion, 60-acre mixed-use redevelopment featuring a 5,000-seat indoor arena, 5,000-seat outdoor soccer stadium with a boutique hotel, an Olympic-size natatorium, youth sports venues, an esports arena, residential towers, retail, and expanded Riverwalk. This project is projected to attract 1.5 million visitors annually, significantly boosting event-driven lodging demand.
- Riverfront Fort Wayne / Promenade Park Expansion – Following the success of Promenade Park, Phase II of the riverfront development (estimated at $40 million) will add new trails, marinas, docks, gathering spaces, and an amphitheater, reinforcing the downtown riverfront as a premier leisure destination.
- Wells Street Wedge – A $45 million mixed-use project adjacent to the St. Mary's River will add retail, dining, and residential offerings, enhancing connectivity near Promenade Park.
- Electric Works Innovation District – A dynamic mixed-use campus featuring offices, research labs, retail, dining, and entertainment, serving as a hub for technology, healthcare, and education innovation in Fort Wayne.
BROKER OF RECORD
Josh Caruana
Indiana
P: (317) 218-5300
Lic #: RB14034355
