Hotel/Spa Conversion Opportunity

Transcription

1 Hotel/Spa Conversion Opportunity Springfield, CT Area 1760 Mapleton Avenue Suffield, Connecticut For more information, please contact: Deborah van der Heyden Managing Director Shawn McMahon Executive Vice President Damla Yerdelenli Associate

2 Property Details Located on a pastoral and private 56 acre parcel with additional development potential, the property s existing main building features: 164 dormitory style residential units Meeting rooms Auditorium Weight room, gym, swimming pool and student lounge Former chapel and library have 20 + ceilings - Convertible to function rooms Large kitchen facilities and dining room Office space and meeting rooms A carriage house located on the property can be used as a residence or for other purposes. There are sports recreation fields on the site and boat access to the Connecticut River may be created along the property s 900 feet of direct water frontage Jones Lang LaSalle. All rights reserved. All information contained herein is from sources deemed reliable; however, no representation or warranty is made to the accuracy thereof.

3 1760 Mapleton Avenue Suffield, CT New to Market Property for Sale PRICE: Upon Request BUILDING SIZE: 131,797 SF LOT SIZE: AC PROPERTY TYPE: Special Use Property Description The subject property consists of 56.1 acres of land that is located on the easterly side of Mapleton Avenue (Route 159). The subject property is located approximately.5 miles south of the Massachusetts/Connecticut state line. The parcel is identified in the Town of Suffield Assessor's Office on Map 53, as Parcel 3. The subject property is irregular in shape and has approximately 1,556 linear feet of frontage on the easterly side of Mapleton Avenue and is bordered at the rear by the Connecticut River with about 900 feet of water frontage. The parcel has an average depth of approximately 1,900 feet from Route 159 easterly to the Connecticut River. Location Description The main building and improvements sit on approximately 12 acres of the 56 acre parcel. There are two curb cuts on Mapleton Avenue which provide access to the property. Paved driveways wind through the property. Asphalt paved parking lots illuminated by pole lights are located in the front and rear of the main building with a total of approximately 325 spaces. Concrete sidewalks line the front of the building. The site is attractively landscaped with a rolling lawn in the front of the site, plantings and flower beds, and large growth trees that provide a natural privacy barrier between Route 159 and the building improvements, which are not visible from the street. At the entrance to the property, there is a monument sign.

4 Hotel/Spa Conversion Opportunity 1760 Mapleton Avenue Suffield, Connecticut The New MGM Springfield Casino

5 Springfield Attractions Holyoke Mall Titanic Museum.6.4 miles/12 minutes away City Stage Symphony Springfield Museum Complex Armory Museum City Stage Symphony Naismith Memorial Basketball Museum MassMutual Center Cyr Arena..07 miles/2 minutes away Zoo in Forest Park 1760 Mapleton Suffield, CT

6 Springfield Attractions

7 Key Facts Quick Statistics Six Flags New England Annual Visitors (water & theme park) Population within 50 Mile Radius from Park Location Current Lodging Available MGM Springfield will create Access to MGM Springfield Number of hotel rooms proposed 1.5 million 3.7 million Comfort Inn & Suites West Springfield (75 rooms) Regency Inn & Suites- West Springfield (48 rooms) Clarion Hotel- West Springfield (259 rooms) Springfield Marriott- Springfield (265 rooms) La Quinta Inn & Suites- Springfield (182 rooms) Holiday Inn Enfield- Springfield (174 rooms) Baymont Inn & Suites- East Windsor (116 rooms) D Hotel & Suites- Holyoke (62 rooms) Hyatt House- Windsor (132 rooms) 3,000 permanent direct jobs & 2,000 construction related jobs Development is designed to give visitors access from I-91 almost directly into a parking garage some 200 feet from the highway (3,600 proposed public parking spaces) 250 within 25 story building Number of estimated market-rate apartments to be developed 54 CityStage Theater Seats Symphony Hall Seats Combined average performances a year MassMutual Center- Home of the Arena seats and hosts 479 2, Springfield Falcons 8,000 and 100 annual events Six Flags New England has 1.5 m visitors per year. MGM Springfield proposes 250 hotel rooms and 3,600 parking spaces. MassMutal Center hosts 100 annual events and seats 8,000!

8 The New MGM Springfield Casino The Project MGM Springfield, an $800 million investment, is designed to ignite an urban revival. MGM and its professional partners worked painstakingly to put together a design that celebrates the history of Springfield while moving the Gateway City into a new era of commerce and economic opportunity. The integrated resort casino is designed to enhance the entire urban center of Springfield. The mixed-use development project calls for a 25 story 250 room hotel with world-class amenities including a spa, pool and roof deck; 125,000 square feet of gaming space with 3,000 slot machines, 75 gaming tables, a poker room and high limit VIP gambling area; about 55,000 square feet of retail and restaurant space that will accommodate 15 shops and restaurants; and a multi-level parking garage. Plans also envision a high-energy dining, retail and entertainment district with an eightscreen cinema, bowling alley and an outdoor stage. MGM Springfield will bring 3,000 permanent jobs and 2,000 construction jobs to Downtown Springfield. MGM has established a hiring goal of 35 percent of the workforce from the City of Springfield and 90 percent from a combination of Springfield and the region. Additionally, MGM Springfield has entered into surrounding community agreements with neighboring communities providing for tens of millions of dollars and has committed to spending approximately $50 million with regional vendors and suppliers.