JLL’s Hotels & Hospitality Group reports the $5.6 million sale of the Grand Eastonian Hotel & Suites, a historic 50-room hotel located in downtown Easton in the Lehigh Valley in Pennsylvania.
JLL represented Nature Nurture Foundation, a 501(c)(3) nonprofit, which sold the property to CanalHouse Hospitality Enterprises LLC, a business founded by a family of long-time Easton residents.
The Grand Eastonian Hotel & Suites is located on Northampton Street, the city's main thoroughfare, with views of the Delaware River. First opened in 1927, the property was acquired by the nonprofit in 2000 and completely renovated thereafter. Over the course of its history, many famous visitors have stayed there, including Eleanor Roosevelt in the earlier days and Mikhail Gorbachev since the renovation.
The current hotel has 50 accommodations ranging from traditional hotel rooms to one and two-bedroom suites with full kitchens and dining areas. The hotel also includes five commercial spaces at street level, a heated indoor saltwater pool, a fitness center and approximately 1,650 square feet of meeting space plus a 2,200-square-foot outdoor terrace.
The property is located just minutes from major demand generators, including Lafayette College, the Crayola Experience and State Theatre, as well as the area's largest employers. The Lehigh Valley's central location between New York City and Philadelphia has made it a thriving hub for manufacturing, distribution, healthcare and education.
The renovation of the hotel is credited with having contributed to the revitalization of the City of Easton, which is experiencing a renaissance with new development underway throughout downtown. The hotel is poised to benefit from that transformation, according to JLL.
"After decades connected to the business as both employees and patrons, we are thrilled to acquire this historic hotel, a cornerstone in downtown Easton’s revitalization," Trevor Thomas, principal at CanalHouse Hospitality Enterprises, said in a statement. "We look forward to partnering with local businesses to showcase Easton as the vibrant, welcoming destination our family calls home."