Lenox Hotels Sold for $38M

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LENOX, Mass. — Two Lenox hotels on the Pittsfield Lenox Road have been acquired by a Denver hospitality company in a deal for $38 million. 
 
Mission Hill Hospitality, a KSL Capital Partners portfolio company, closed the sales on Aug. 11 for the Courtyard by Marriot Lenox and Hampton Inn & Suites Berkshires-Lenox from Toole Lodging Group.
 
"The Berkshires are a top drive-to-leisure destination in New England, filled with a rich history and an abundance of attractions bringing in tourists to Lenox year-round," said Mike Wilbert, managing director of Mission Hill Hospitality, in a statement announcing the purchases. "We are excited about the continued growth of our portfolio as we further expand into New England with these two assets."
 
The Courtyard by Marriot Lenox was opened in 2017 with 92 rooms at a cost of about $10 million. Situated on over 6.5 acres, it has a bistro that includes breakfast and all-day Starbucks coffee service. Other amenities include an outdoor fire pit, picnic and barbeque area, an indoor swimming pool and whirlpool, upgraded complimentary wi-fi, a fitness center, business center, a 1,394 square feet of meeting space, and an electric car charging station.
 
Hampton Inn & Suites Berkshires-Lenox was built in 2008 and its 79 rooms offer guests a mix of king spa, king, queen rooms and king studio suites, including accessible, connecting, and pet-friendly rooms. Guests enjoy complimentary breakfast, an indoor pool, fitness center, business center, and 912 square feet of event space. 
 
The Marriot was sold for $25 million and the Hampton Inn for $13 million, according to documents on file with the Registry of Deeds, to MHH Lenox 70 Holdings LLC and MHH Lenox 445 Holdings LLC, respectively. The properties were held by Toole doing business as Toole Properties 2006 Inc. and Brushwood LLC.
 
The Toole Lodging Group's other holdings are the Yankee Inn in Lenox and Yankee Suites Extended Stay in Pittsfield.
 
According to the company's website, Mission Hill is focused on "transforming select-service and extended-stay hotel investing." The two Lenox properties are the 22nd and 23rd hotels added to its portfolio since the company was launched last year.
 

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Big Lots to Close Pittsfield Store

PITTSFIELD, Mass. — Two major chains are closing storefronts in the Berkshires in the coming year.
 
Big Lots announced on Thursday it would liquidate its assets after a purchase agreement with a competitor fell through. 
 
"We all have worked extremely hard and have taken every step to complete a going concern sale," Bruce Thorn, Big Lots' president and CEO, said in the announcement. "While we remain hopeful that we can close an alternative going concern transaction, in order to protect the value of the Big Lots estate, we have made the difficult decision to begin the GOB process."
 
The closeout retailer moved into the former Price Rite Marketplace on Dalton Avenue in 2021. The grocery had been in what was originally the Big N for 14 years before closing eight months after a million-dollar remodel. Big Lots had previously been in the Allendale Shopping Center.
 
Big Lots filed for Chapter 11 bankruptcy in September. It operated nearly 1,400 stores nationwide but began closing more than 300 by August with plans for another 250 by January. The Pittsfield location had not been amount the early closures. 
 
Its website puts the current list of stores at 960 with 17 in Massachusetts. Most are in the eastern part of the state with the closest in Pittsfield and Springfield. 
 
Advanced Auto Parts, with three locations in the Berkshires, is closing 500 stores and 200 independently owned locations by about June. 
 
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