Home2 Suites Development Site

Transcription

1 Home2 Suites Development Site Manassas, Virginia Contact Listing Broker : Charlie Fritsch x14 C Washington DC New York Memphis Birmingham Cedar Rapids Capital Funding MBAHOTELS.

2 Table of Contents Opportunity Property Description Location Financial Analysis Competitive Set Demand Generators Area Information

3 Opportunity New Reduced Price: $2,900,000 Opportunity Summary 8.9 Acres Development Opportunity with 3 Pad Sites Advantageous Pricing for All 3 Sites OR Seller May Consider a Joint Venture with Qualified Hotel Developer on Home2 Suites Pad Site Only Approved for a 107 key Home2 Suites with two additional pad sites. Or Hilton may approve TRU by Hilton. Or other franchises may be available. Completed cost estimates about $130,000 per key for Home2 Suites including development costs. Hilton will not approve a second hotel at this time, but it is possible that in a 2-3 years it would approve an additional flag here, such as a Hampton Inn. Shovel Ready! New Owner Could Start Grading Next Week! Site Plan = Done Environment Study = Done VDOT Study = Done GEO Engineering Study = Done Located in Rapidly Growing Suburb of Washington D.C.

4 Property Description Location Balls Ford Road, Manassas VA PROPERTY HIGHLIGHTS 8.9 Acres site 3 Pad Sites Approved 107 Room Home2 Suites Approx. 132 above ground parking spaces Easy Access Off Interstate 66, Exit 47, via route 234 and Balls Ford Rd. Many Restaurants within Walking and Short Driving Distance 35 miles outside of Washington DC Projected Population Growth of 21% by 2020 View of Development Site from Williamson Blvd. Approved Development Home2 Suites 107 Rooms Includes Lounge Additional Pads Restaurant, Bank or Other Purpose Possibly another hotel may be developed in future Sample Home2 Suites building The hotel is designed to have a dramatic entry and excellent curb appeal. The first floor will contain all of the common areas along with a small number of guest rooms.

5 Street View Entrance to Balls Ford Road, facing towards development site. View shows a gas station on each corner and City Grille Restaurant. Sudley Road/ Route 234 facing north, towards Interstate 66. Shell Gas Station and Exxon

6 Photographs Sample Home2 Suites Product * Example Photos Only

7 Property Map

8 Location The 8.9 Acres site is located at Balls Ford Road in Manassas, Virginia. The future Home2 Suites will be located off Interstate 66 on exit 47, the exit for Manassas National Battlefield Park. Exit 47 is a busy interchange with access to the Manassas National Battlefield Park, close to many of the area s top employers, plus restaurants and event venues. The Site is located in the Washington DC Metropolitan Area, about 32 miles from the U.S. Capital and only 18 miles from the I-495 Beltway.

9 Competitive Set Hotel Name Hampton Inn Manassas Address 7295 Williamson Blvd, Manassas VA Rooms: 125 Keys Floors: 6 Story, Interior Corridor Built in: 1989 Complimentary Breakfast, Fitness Room, Business Center, Outdoor Pool, Meeting Amenities: Room Distance from property: 0.6 Miles Hotel Name Comfort Suites Manassas Battlefield Address 7350 Williamson Blvd. Manassas VA Rooms: 138 Keys Floors: 4 Stories, Interior Corridor Built in: 2001 Business Center, Fitness Room, Game Room, Free Hotel Breakfast, Indoor Pool Amenities: and Hot Tub Distance from property: 0.8 Miles Hotel Name Residence Inn Manassas Battlefield Address 7345 Williamson Blvd. Manassas VA Rooms: 107 Keys Floors: 3 Stories Built in: 2006 Free Hot Breakfast, Fitness Center, Indoor Amenities: Pool, Meeting Room Distance from property: 0.7 Miles

10 Competitive Set Hotel Name Holiday Inn Manassas Battlefield Address Balls Ford Road, Manassas VA Rooms: 104 Keys Floors: 4 Stories, Interior Corridor Built in: 2007 Indoor Pool and Hot Tub, Fitness Center, Amenities: Business Center, Restaurant Distance from property: 0.2 Miles Hotel Name Wyndham Garden Hotel Manassas Address Vandor Ln. Manassas VA Rooms: 158 Floors: 5 Stories. Interior Corridor Built in: 1973 Five meeting rooms, business center, Restaurant, Amenities: Fitness center, Indoor pool, Distance from property: 0.9 Miles Hotel Name Courtyard Manassas Battlefield by Marriot Address Battleview Pky Manassas VA Rooms: 149 Floors: 3 floors Built in: 1989 Amenities: Indoor pool, 2 meeting rooms, Restaurant, Distance from property: 1.0 Mile

11 Demand Generators Northern Virginia is a hot spot of business development with more Fortune 500 company headquarters than Washington D.C. In addition to 18 Fortune 500 companies headquartered in Northern Virginia, government contracting companies make up a large portion of companies with headquarters in northern Virginia. Government contracting sectors include defense, healthcare, financial services, information technology, mercenaries, science and space technology. Other industries with a large presence Virginia include internet technology and software, communications, finance and non-profit organizations. The Northern Virginia MSA has 317 companies on the INC. 500 ranking of the fastest growing businesses in the United States, more companies than all but one other metropolitan area. The Federal Government employers in Northern Virginia include U.S. Department of Defense, Department of Justice, Department of State, Department of Homeland Security, U.S. Environmental Protection Agency, U.S. General Service Administration, and Department of Interior. The US Department of Defense is the second largest employer in Prince William County and is also one of the top employers in Arlington, Fairfax, Alexandria and Loudoun Counties. Lockheed Martin is an aerospace, defense, security and advanced technologies company. It is headquartered in Bethesda, Maryland and employs more than 16,000 employees world-wide. Manassas is home to a Lockheed Martin Mission Systems & Training MST facility that employs about 1500 employees. (4.3 miles) Micron Technology is an American multinational corporation based in Boise, Idaho and has a manufacturing facility in Manassas producing semiconductor devices. Its Manassas facility employs about 1650 people directly, and several hundred others through vendor contracts. (4.3 miles) Novant Prince William Health System runs the Novant Prince William Medical Center and employs approximately 1400 employees. The Medical Center is a general medical and surgical hospital in Manassas, VA with 168 beds. According to US News, data for the last available year shows that 75,286 patients visited the emergency room and the hospital had a total of 10,840 admissions. (3.1 miles)

12 Demand Generators George Mason University located in Fairfax, Virginia, with additional campuses in Prince William, Arlington, and Loudoun Counties, is the largest public research university in Virginia. The university enrolled 33,917 students in 2013, up 2.9% from It is recognized for its strong programs in economics, law, creative writing, computer science and business. Students come from all 50 states and 122 foreign countries. (15 miles) Washington Dulles International Airport serves over 21 million passengers a year and is the busiest international airport in the Mid-Atlantic, outside the New York metro area. On a typical day, more than 60,000 passengers pass through Washington Dulles to and from more than 125 destinations around the world. (17 miles) Jiffy Lube Live is an outdoor live performance amphitheater in Bristow, VA. The amphitheater can seat 25,000 with 15,000 on the lawn and 10,000 in reserved seats. Its seating capacity makes it one of the largest music oriented performance venues in the Washington Metropolitan Area. (5.0 miles) Manassas National Battlefield Park is operated by the National Park Service and preserves the site of two major American Civil War battles: the First Battle of Bull Run (First Battle of Manassas) on July 21, 1861 and the Second Battle of Bull Run (Second Battle of Manassas) on August The park offers multiple historic sites and the Henry Hill Visitor Center which offers exhibits on the First Battle of Bull Run. More than 900,000 people visit the battlefield each year. (4.5 miles) Splash Down Water Park calls itself Northern Virginia s Largest Waterpark. Park amenities include Tropical Twister waterslides, two Canon Ball slides, two 4-story waterslides, 770 foot Lazy River, 25 meter lap pool, and more. The park is open Memorial Labor Day. (3.1 miles) The National Air & Space Museum Udvar-Hazy Center in Chantilly Virginia is the companion facility to the National Air and Space Museum on the National Mall in Wash. D.C. There are thousands of aviation and space artifacts on display including a Lockeed SR-71 Blackbird and the space shuttle Discovery. The two facilities together have more than eight million visitors a year. (13.1 miles)

13 Area Information Manassas is a city south and west of Washington D.C. in Virginia. According to the U.S. Census Bureau, in 2014 the city had an estimated population of 42,081, however it is part of the Washington Metropolitan Statistical Area with an estimated population in 2014 of 6,033,737. The Washington Metropolitan Area is the 7th largest metro area in the U.S. and ranks as the most educated and, by some measures, the most affluent. Manassas is located in Prince Williams County, one of five Virginia counties that make up the Northern Virginia MSA. Unemployment in Prince Williams County is low, about 3.9% in 2014, which is lower than the rate in the state of Virginia and the U.S. average. Population growth for Prince Williams County is expected to be strong in the coming decades. The population grew 11.0% 2010 to 2014, according to the U.S. Census, and could grow 21% between 2010 and Hylton Performing Arts Center in Manassas has 85,000 square feet of event spaces including 1,123-seat Merchant Hall opera house with 100 foot state and orchestra pit, 240- seat Gregory Family Theater with an open floor plan, the Didlake Grand Foyer for Private Dinners or Standing Receptions, and the Buchanan Partners Art Gallery which showcases local visual artists. Upcoming events include Manassas Ballet Theater: Jazz in Motion, Prince William Little Theater: Shakespeare s Julius Caesar, Peter Rabbit Tales, Bing Crosby and the Recording Revolution, Art of Time Ensemble: Sgt. Pepper s Lonely Hearts Club Band. (4.5 miles)

14 DISCLAIMER The confidential information, analyses, and projections contained herein are provided solely for the information of prospective purchasers and no warranty or representation as to accuracy or completeness is made by the Seller or MBA Hotel Brokers, their subsidiaries or affiliates, and no legal liability is assumed or implied with respect thereto. The property is being sold as is without any warranties whatsoever, expressed or implied. Prospective purchasers must, therefore, rely exclusively on their own investigations, interpretations and analyses in connection with this offering and not on any information provided by Seller or MBA Hotel Brokers. This sale offering is made subject to errors, omissions, prior sale, change of price or terms, or withdrawal from the market without notice. Information is for guidance only and does not constitute all or any part of a contract. The materials contained herein are confidential, furnished solely for the purpose of considering the purchase of the property described herein and is not to be used for any other purpose or made available to any other person without the prior written consent of the owner. This confidential memorandum is the property of MBA Hotel Brokers, and is intended to be used only by such parties to whom Broker has delivered the memorandum or to whom Broker has approved such delivery. If you do not wish to pursue negotiations leading to this acquisition, or if in the future you discontinue such negotiations, you agree to return this confidential memorandum to MBA Hotel Brokers. The firm MBA Hotel Brokers is marketing the property. All Purchasers recognize that the Broker represents the Seller in this transaction. The fact that the Broker provides guidance to the Buyer / prospective purchaser and /or makes recommendations regarding financing does not create an agency relationship between Purchaser and Broker. The Seller is responsible for paying all brokerage fees associated with the sale of the aforementioned property. The Seller and Broker specifically make no representation whatsoever about any environmental conditions on the property, including but not limited to issues such as asbestos, hazardous waste, petroleum leaks or spills. Without limiting the generality of the foregoing, any environmental reports, any structural reports, or any other type or kind or report prepared by a third party, if any, included in the confidential memorandum have not been prepared by Seller and neither Seller nor MBA Hotel Brokers makes any representations as to the truth, accuracy, or completeness of same and neither prospective purchaser, nor its representatives nor any other person shall be entitled to rely on such reports or any information contained therein. Without limiting the foregoing, information contained in this confidential memorandum may vary from the date of publishing. In some instances, more complete or up to date information may have become available following the creation of this memorandum.