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Consolation Suites Houston Galleria – Picture Credit score CBRE
CBRE Resorts is soliciting affords to amass the fee-simple curiosity within the Consolation Suites close to the Galleria in Houston, Texas. The lodge is located off Richmond Avenue, simply two miles from The Galleria, Texas’ largest procuring middle and seventh largest area nationally. As well as, the property is proximate to a excessive focus of each company and leisure demand turbines, together with the Houston Museum District, Minute Maid Park, NRG Stadium, and Texas Medical Heart.
Funding Highlights
- Uncommon alternative to buy a 61-room, three-story, interior-corridor, Consolation Suites within the Houston Uptown/Galleria market, one of the vital premier actual property submarkets in Larger Houston.
- Spark by Hilton conversion alternative is feasible at this location. Please contact brokers for extra particulars.
- The lodge is in a excessive barrier-to-entry market. This providing presents a distinctive alternative to amass an ideally positioned property at considerably under substitute price.
- In response to the Vendor, the property has the potential so as to add 31 further guestrooms. Please ask brokers for extra particulars.
- The Consolation Suites is obtainable with vital upside potential. Upon completion of the change of possession PIP, the lodge is projected to carry out at $77 RevPAR and $1.7 million Room Income.
- The property is simply two miles from The Galleria, the most important mall in Texas. Spanning 2.4 million sq. ft of area, housing 400 wonderful shops and eating places, two high-rise Westin inns, and three workplace towers, The Galleria is Houston’s hottest retail and vacationer vacation spot that welcomes greater than 30 million guests every year.
- In addition to The Galleria, the lodge is in proximity to a number of leisure demand drivers, together with Memorial Park, Museum District, George Brown Conference Heart, PNC Stadium(Residence of Houston Dynamo FC, a Main League Soccer membership), Minute Maid Park (Residence of the Houston Astros Baseball staff), and Toyota Heart(Residence of Houston Rockets).
For inquiries go to right here.
