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Hotel-Motel

Marriott Select-Service Portfolio – North Dallas

5909 Stone Creek Dr, The Colony, TX 75056

Listing Price: Request For Offer

Number of Rooms
344
RevPAR
$46
Year Built
2008

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap is pleased to offer for sale the Marriott Select-Service Portfolio – North Dallas, a 334-room hospitality portfolio in The Colony, Texas. Comprised of the Residence Inn Dallas Plano/The Colony, Fairfield Inn & Suites Dallas Plano/The Colony + Cascades Conference Center, and Courtyard by Marriott Plano/The Colony, this portfolio is located directly on the Sam Rayburn Tollway, across from Grandscape, the $1.5 billion Berkshire Hathaway megadevelopment, and minutes from Legacy Business Park, the $3 billion mixed-use campus with over 33 million square feet of corporate and regional headquarters. Legacy business park is a master-planned business, retail, and residential community in northwest Plano. Legacy has already attracted over 33 million square feet of corporate and regional headquarters and provides a distinctive address to many top corporate names. Toyota Motor North America’s state-of-the-art headquarters is located less than a mile east of the portfolio, along with numerous other corporate headquarters within three miles including Frito-Lay, FedEx Office, NTT Data, Ericsson, JPMorgan Chase, Liberty Mutual, PepsiCo, and CapitalOne Finance. Granite Park is a mixed-use office community that houses multiple companies ranging from aerospace to global network infrastructure. The Marriott Select-Service Portfolio – North Dallas will offer new ownership a unique value-add opportunity to acquire three Marriott-branded assets within one of the premier employment regions in the DFW Metroplex. In 2019, the subject hotels experienced 70% occupancy across the board, generating $11.4M in total revenue with a 28% NOI flow-through. The Offering presents the prospective buyer an opportunity to acquire an ideal collection of three Select-Service Marriott-branded hotels along with a conference center and capitalize on the post-Covid travel and lodging industry’s resurgence. Air traffic at Dallas-Fort Worth International and Dallas Love Field was 55% and 83% higher, respectively, to start the year when compared with 2021. As business travel resumes, and conferences and conventions return to in-person events, new ownership will be able to take advantage of the portfolio’s ideal positioning in one of the hottest employment and entertainment hubs in the U.S. All Properties are offered fee simple and unencumbered by any management or debt. Location Overview Grandscape: One of Dallas Fort Worth’s most notable mega-developments, Grandscape, will be a $1.5 billion, 433-acre mixed-use lifestyle center that is second to none. Being developed by Berkshire Hathaway, Grandscape is expected to be built out in phases, with Phase 1 delivering a 1.9 million-square-foot Nebraska Furniture Mart in 2015. Recent additions include Scheel’s, the world’s largest sporting goods store at 331,000-square-feet opened in May 2020, Andretti Karting & Games, which opened in March 2020, and Galaxy Theatres, which opened in September 2020. Grandscape is a one-of-a-kind entertainment center, featuring a 180-foot-tall Ferris Wheel, the first-ever high-tech, totally reimagined mini-golf experience known as Puttery, developed by Dallas-based Drive Shack, the United States’ first Electric Gamebox, a hyper-immersive digital smart room video game experience, and two-dozen award-winning restaurants. When fully built out, the development will include one-of-a-kind retail, office space, a convention center, a hotel and spa, an outdoor amphitheater, 300 multi-family units, a 5,000-spot parking garage, and unique restaurants along a waterfront boardwalk. Developers expect Grandscape to attract over 20 million visitors annually. Star in Frisco: The Star in Frisco is the 91-acre campus of the Dallas Cowboys World Headquarters and practice facility in Frisco. Developed as a first-of-its-kind partnership between the City of Frisco and Frisco ISD, The Star gives fans the opportunity to connect with the Dallas Cowboys in ways they have never imagined. The development is anchored by the 12,000-seat Ford Center and Omni Frisco Hotel, and features the Star District, a premier shopping, dining, and entertainment district with more than 35 restaurants, shops, and specialty services. The Star is also home to the 300,000-square-foot Baylor Scott & White Sports Therapy & Research Facility, a game-changing sports performance and healthcare destination focused on safety and research, as well as the new 350,000-square-foot Keurig Dr. Pepper headquarters, which opened in February 2021. Dallas-Fort Worth International Airport: DFW International Airport is the fourth-busiest airport in the country and a major economic engine for North Texas. Servicing over 75 million passengers, DFW International produces over $37 billion in economic impact each year. The airport offers access to 260 destinations across 26 different airlines, specifically acting as a hub for American Airlines, Ameriflight, Southern Airways Express, and UPS Airlines. DFW International is also a focus city for Spirit Airlines and Sun Country Airlines. With five terminals and 184 gates, DFW is spread across 27 square miles, larger than the island of Manhattan. Consequently, the airport offers an automated people mover called the Skylink, making travel between terminals easier for customers. In the last 12 months, travel through DFW International is up 75%, as the region continues to thrive post-pandemic. The subject properties are less than 15 minutes from the DFW International Airport.

Investment Highlights

  • 334-Room, Select-Service Three-Property Portfolio in the Dallas-Fort Worth MSA
  • Legacy West and Legacy Business Park, with over 33 Million Square Feet of Corporate and Regional Headquarters, is 1 Mile East
  • Value-Add Opportunity to Implement New Revenue Management and Cost Control Strategies
  • Attractive Location along Sam Rayburn Tollway
  • Favorable Dallas-Fort Worth Metroplex Economy and Demographics
  • The Return of Business Travel, In-Person Conferences and Conventions, and Increased Air Traffic Create the Ideal Post-Pandemic Hotel and Lodging Opportunity

Exclusively Listed By

Hotel-Motel

Marriott Select-Service Portfolio – North Dallas

Listing Price: Request For Offer

Number of Rooms
344
RevPAR
$46
Year Built
2008

Investment Highlights

  • 334-Room, Select-Service Three-Property Portfolio in the Dallas-Fort Worth MSA
  • Legacy West and Legacy Business Park, with over 33 Million Square Feet of Corporate and Regional Headquarters, is 1 Mile East
  • Value-Add Opportunity to Implement New Revenue Management and Cost Control Strategies
  • Attractive Location along Sam Rayburn Tollway
  • Favorable Dallas-Fort Worth Metroplex Economy and Demographics
  • The Return of Business Travel, In-Person Conferences and Conventions, and Increased Air Traffic Create the Ideal Post-Pandemic Hotel and Lodging Opportunity

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap is pleased to offer for sale the Marriott Select-Service Portfolio – North Dallas, a 334-room hospitality portfolio in The Colony, Texas. Comprised of the Residence Inn Dallas Plano/The Colony, Fairfield Inn & Suites Dallas Plano/The Colony + Cascades Conference Center, and Courtyard by Marriott Plano/The Colony, this portfolio is located directly on the Sam Rayburn Tollway, across from Grandscape, the $1.5 billion Berkshire Hathaway megadevelopment, and minutes from Legacy Business Park, the $3 billion mixed-use campus with over 33 million square feet of corporate and regional headquarters. Legacy business park is a master-planned business, retail, and residential community in northwest Plano. Legacy has already attracted over 33 million square feet of corporate and regional headquarters and provides a distinctive address to many top corporate names. Toyota Motor North America’s state-of-the-art headquarters is located less than a mile east of the portfolio, along with numerous other corporate headquarters within three miles including Frito-Lay, FedEx Office, NTT Data, Ericsson, JPMorgan Chase, Liberty Mutual, PepsiCo, and CapitalOne Finance. Granite Park is a mixed-use office community that houses multiple companies ranging from aerospace to global network infrastructure. The Marriott Select-Service Portfolio – North Dallas will offer new ownership a unique value-add opportunity to acquire three Marriott-branded assets within one of the premier employment regions in the DFW Metroplex. In 2019, the subject hotels experienced 70% occupancy across the board, generating $11.4M in total revenue with a 28% NOI flow-through. The Offering presents the prospective buyer an opportunity to acquire an ideal collection of three Select-Service Marriott-branded hotels along with a conference center and capitalize on the post-Covid travel and lodging industry’s resurgence. Air traffic at Dallas-Fort Worth International and Dallas Love Field was 55% and 83% higher, respectively, to start the year when compared with 2021. As business travel resumes, and conferences and conventions return to in-person events, new ownership will be able to take advantage of the portfolio’s ideal positioning in one of the hottest employment and entertainment hubs in the U.S. All Properties are offered fee simple and unencumbered by any management or debt. Location Overview Grandscape: One of Dallas Fort Worth’s most notable mega-developments, Grandscape, will be a $1.5 billion, 433-acre mixed-use lifestyle center that is second to none. Being developed by Berkshire Hathaway, Grandscape is expected to be built out in phases, with Phase 1 delivering a 1.9 million-square-foot Nebraska Furniture Mart in 2015. Recent additions include Scheel’s, the world’s largest sporting goods store at 331,000-square-feet opened in May 2020, Andretti Karting & Games, which opened in March 2020, and Galaxy Theatres, which opened in September 2020. Grandscape is a one-of-a-kind entertainment center, featuring a 180-foot-tall Ferris Wheel, the first-ever high-tech, totally reimagined mini-golf experience known as Puttery, developed by Dallas-based Drive Shack, the United States’ first Electric Gamebox, a hyper-immersive digital smart room video game experience, and two-dozen award-winning restaurants. When fully built out, the development will include one-of-a-kind retail, office space, a convention center, a hotel and spa, an outdoor amphitheater, 300 multi-family units, a 5,000-spot parking garage, and unique restaurants along a waterfront boardwalk. Developers expect Grandscape to attract over 20 million visitors annually. Star in Frisco: The Star in Frisco is the 91-acre campus of the Dallas Cowboys World Headquarters and practice facility in Frisco. Developed as a first-of-its-kind partnership between the City of Frisco and Frisco ISD, The Star gives fans the opportunity to connect with the Dallas Cowboys in ways they have never imagined. The development is anchored by the 12,000-seat Ford Center and Omni Frisco Hotel, and features the Star District, a premier shopping, dining, and entertainment district with more than 35 restaurants, shops, and specialty services. The Star is also home to the 300,000-square-foot Baylor Scott & White Sports Therapy & Research Facility, a game-changing sports performance and healthcare destination focused on safety and research, as well as the new 350,000-square-foot Keurig Dr. Pepper headquarters, which opened in February 2021. Dallas-Fort Worth International Airport: DFW International Airport is the fourth-busiest airport in the country and a major economic engine for North Texas. Servicing over 75 million passengers, DFW International produces over $37 billion in economic impact each year. The airport offers access to 260 destinations across 26 different airlines, specifically acting as a hub for American Airlines, Ameriflight, Southern Airways Express, and UPS Airlines. DFW International is also a focus city for Spirit Airlines and Sun Country Airlines. With five terminals and 184 gates, DFW is spread across 27 square miles, larger than the island of Manhattan. Consequently, the airport offers an automated people mover called the Skylink, making travel between terminals easier for customers. In the last 12 months, travel through DFW International is up 75%, as the region continues to thrive post-pandemic. The subject properties are less than 15 minutes from the DFW International Airport.

Exclusively Listed By

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