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Austin Airpot Land Avid-Springhill 720.20 2-PARCEL HOTEL DEVELOPMENT SITES OFFERING MEMORANDUM AUSTIN TEXAS AIRPORT LAND AUSTIN | TX 1400 Landing Lane, Austin TX 78742 | 3006 Meldrum Road, Austin TX 78617 ASHISH CHOPRA SUBHASH NAIK NITI NAIK Listing Agent Making Deals Happen Licensed Broker 916.718.4571 661.978.3109 661.808.4998 [email protected] [email protected] [email protected] HOTEL BROKERS OF AMERICA CalBRE # 020834401 CalBRE #01717362 TX BRE #735690 NON-ENDORSEMENT & DISCLAIMER NOTICE CONFIDENTIALITY & DISCLAIMER including by obtaining and reading applicable documents and All materials and information received or derived from Hotel through appropriate third party independent professionals Brokers of America (HBA) & Niti Naik (State Licensed Broker) selected by such party. All financial data should be verified by its directors, ocers, agents, advisors, aliates and/or any third the party including by obtaining and reading applicable party sources are provided without representation or warranty documents and reports and consulting appropriate independent as to completeness , veracity, or accuracy, condition of the professionals. HBA & State Licensed Broker makes no property, compliance orlack of compliance with applicable warranties and/or representations regarding the veracity, governmental requirements, developability or suitability, completeness, or relevance of any financial data or assumptions. financial performance of the property, projected financial HBA & State Licensed Broker does not serve as a financial performance of the property for any party’s intended use or any advisor to any party regarding any proposed transaction. All and all other matters. data and assumptions regarding financial performance, including that used for financial modeling purposes, may dier Neither HBA, State Licensed Broker, its directors, ocers, from actual data or performance. Any estimates of market rents agents, advisors, or aliates makes any representation or and/or projected rents that may be provided to a party do not warranty, express or implied, as to accuracy or completeness of necessarily mean that rents can be established at or increased to the any materials or information provided, derived, or received. that level. Parties must evaluate any applicable contractual and Materials and information from any source,whether written or governmental limitations as well as market conditions,vacancy verbal, that may be furnished for review are not a substitute for factors and other issues in order to determine rents from or for a party’s active conduct of its own due diligence to determine the property. these and other matters of significance to such party. HBA & State Licensed Broker will not investigate or verify any such Legal questions should be discussed by the party with an matters or conduct due diligence for a party unless otherwise attorney. Tax questions should be discussed by the party with a agreed in writing. certified public accountant or tax attorney. Title questions should be discussed by the party with a title ocer or attorney. EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT Questions regarding the condition of the property and whether INVESTIGATION AND DUE DILIGENCE. the property complies with applicable governmental Any party contemplating or under contract or in escrow for a requirements should be discussed by the party with appropriate transaction is urged to verify all information and to conduct engineers, architects, contractors, other consultants and their own inspections and investigations including through governmental agencies. All properties and services are appropriate third party independent professionals selected by marketed by HBA & State Licensed Broker in compliance with all such party. All financial data should be verified by the party applicable fair housing and equal opportunity laws. SUBHASH NAIK | Making Deals Happen HOTEL BROKERS OF AMERICA 661.978.3109 | [email protected] | CalBRE #01717362 DEVELOPMENT LAND AUSTIN AIRPORT | TX 2-LOT, SPRINGHILL SUITES + AVID HOTEL FRANCHISE TABLE OF CON TENTS EXECUTIVE SUMMARY ............................ 5 PROPERTY OVERVIEW. ...... .......................9 EXCLUSIVELY LISTED BY SUBHASH NAIK FINANCIAL OVERVIEW ......................... 17 Making Deals Happen 661.978.3109 [email protected] MARKET OVERVIEW..................... .......... 25 ........................... CalBRE #01717362 ASHISH CHOPRA NITI NAIK Listing Agent Licensed Broker 916.718.4571 661.808.4998 [email protected] [email protected] CalBRE # 020834401 TX Broker #735690 HOTEL BROKERS OF AMERICA America’s Hotel Brokers’ Broker www.HBofAmerica.com.com ACCEPTING REASONABLE OFFERS DEVELOPMENT LAND | AUSTIN SPRINGHILL SUITES BY MARRIOTT + AVID BY IHG HOTEL BROKERS OF AMERICA America’s Hotel Brokers’ Broker This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, as-sumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. For more information please contact Hotel Brokers of America. DEVELOPMENT LAND AUSTIN AIRPORT EXECUTIVE SUMMARY America’s Hotel Brokers’ Broker Hotel Brokers of America is pleased to oer, on an exclusive basis, the opportunity to acquire these hotel development sites. The land site is located on the corner of Thornberry Road and Night Star Drive, o of Highway 71, right near the Austin Airport. We are asking interested parties to submit oers for the lots at $3,500,000 each. These parcels are to be developed, and are oered with the Franchise right to Marriott Brands, including Springhill Suite. This is a great opportunity to enter the growing Austin, TX market! INVESTMENT HIGHLIGHTS STRONG LOCATION NEAR A VARIETY OF DEMAND GENERATORS capacity up to 14,000 people. Together, COTA and Austin360Amphitheater have become a major economic driver in Central Texas, with more than 1.2 million The development site’s highly visible location near the Austin-Bergstrom Interna- people from across the globe attending events at the facilities each year. COTA’s tional Airport’s main intersection strategically positions it proximate to a strong signature event, the Formula One U.S. Grand Prix, has had an attendance of more mix of demand drivers, including: This is a great opportunity to enter the growing than 230,000 people each year since opening in 2012. Austin, TX market! Strong Corporate Presence Several large oce users are located within a fivemile • Austin-Bergstrom International Airport ABIA Total Passenger Activity radius, including University of Texas (300,000 SF), Silicon Laboratories (290,000 With over 150 daily departures to 47 Year Passengers % Change SF), and Progressive Insurance (215,000 SF), among others. domestic & international destinations, ABIA is one of the country’s fastest 2011 9,080,875 - growing airports. Total passengers at the 2012 9,430,314 3.8% airportincreased 11% to 11.9 million in 2013 10,017,958 6.2% AVAILABLE LAND OVERVIEW 2015, reflecting the fifth consecutive year 2014 10,718,854 7.0% of record-breaking trac. The Hotel’s PARCEL 1 location directly adjacent to the airport 2015 11,897,959 11.0% Address: 1400 Landing Lane, Austin TX 78742 provides a very consistent and rapidly 3/15 YTD 2,524,735 growing room-night generator. 3/16 YTD 2,778,919 10.1% Acres: 2.69 Acres Source: austintexas.gov Franchise Rights: Springhilll Suites by Marriott • Circuit of The Americas (COTA) and Austin 360 Ampitheater Circuit of The Americas, a motor racing facility located approximately five miles from the PARCEL 2 Hotel, was the first in the U.S. to be purpose-built for Formula One & hosts Address: 3006 Meldrum Road, Austin TX 78742 over 30 major race events, annually, including ESPN X Games. The COTA facilities also include the Austin360Ampitheater, a major concert/event venue Acres: 2.41 Acres with Franchise Rights: Avid by IHG SUBHASH NAIK | Making Deals Happen HOTEL BROKERS OF AMERICA 661.978.3109 | [email protected] | CalBRE #01717362 5 PROPERTY DESCRIPTION America’s Hotel Brokers’ Broker EXCELLENT DEVELOPMENT OPPORTUNITY We are oering the properties at a $3,500,000 per lot. These sites are to be developed, and come with the land and franchise rights to Marriott & IHG Brands. STRENGTH OF MARRIOTT & IHG FRANCHISE AFFILIATIONS Each Property currently oers a franchise agreement - Lot 1 at 1400 Landing Lane oers rights to develop a Springhill Suites hotel by Marriott & Lot 2 at 3059 HWY 71 oers the right to develop an Avid hotel by IHG. These properties benefit immensely from their franchise aliation with the highly desired Marriott & IHG brand families and the access to its top loyalty program and strong worldwide distribution system. THRIVING AUSTIN MARKET Consistently ranked as Forbes’ #1 “Fastest Growing City in America,” including most recently in 2016, Austin continues to lead the nation in economic growth. • Austin has surpassed Silicon Valley as the top city for start-ups with 180 start-up businesses in 2015, in addition to companies with an existing Austin presence such as Apple, 3M, Hewlett-Packard, Facebook, AMD, eBay/PayPal, Intel Corporation, Samsung Group, Oracle Corporation, and many others. • Recognized as the “Live Music Capital of the World,” Austin oers a wide array of internationally celebrated events such as South by Southwest, Austin City
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