Hyatt Place Plano

Request for Offers

3100 Dallas Parkway, Plano, TX

Details

  • Request for Offers
  • Upscale

Investment Overview:

Marcus & Millichap is pleased to exclusively offer for sale the Hyatt Place Dallas Plano on a Call for Offers basis. The hotel is located along the Dallas North Tollway in the Dallas Platinum Corridor District, and positioned to accommodate the growing North Dallas regional economic development.

During TTM September 2017 the Hyatt Place Dallas Plano generated approximately $3.9 million in room revenue at average daily rates of $117.34 and 73.4 percent average occupancy. The adjusted net operating income for the same period was $1.247 million.

Property Overview:

The Hyatt Place Dallas Plano is a 127-room select-service hotel located in Plano, Texas. The eco-friendly, green certified hotel sits on a premium 3.15-acre lot and is highly visible along the Dallas North Tollway. The hotel features common amenities to host its corporate neighbors by offering guests a business center, fitness center, outdoor pool, 24/7 Gallery Menu & Market, hotel shuttles, ample parking, and
790 square feet of flexible meeting spaces. Standard guest room amenities feature a separate workspace, sofa bed/sleeper couch, 42-inch flat screen television, mini-refrigerator, and a coffee maker.

Location Overview:

Plano, Texas is located in the North Dallas-Fort Worth region and headquarters to several global corporations which are major lodging demand generators in the area. Toyota North America, Inc. recently opened their new headquarters and will add up to 4,000 jobs to Plano by the end of 2017. JPMorgan Chase is consolidating many of its North Texas operations into a corporate complex anticipated to house 4,800 workers and will be located within the $3 billion Legacy West development. Other major corporations that have announced corporate relocations or new office campuses in Plano include Liberty Mutual Insurance (4,000 jobs), Fannie Mae (2,000 jobs), Boeing Global Services, and L3 Technologies, amongst others.

Additionally, FedEx Office and Pizza Hut have expanded their headquarters to the Dallas Platinum Premium Corridor District which is a 13.7-mile stretch of the tollway running from the LBJ Freeway past State Highway 121. JC Penny, Dr. Pepper Snapple, Frito-Lay, KFC Global, Pizza Hut Global, Rent-A-Center, Ericsson and Cinemark Holdings are some of the other major corporations located here, all
within a five-mile radius of the Hyatt Place Dallas Plano.

Local attractions include major campuses such as the Ford Center at the Star, a 510,000-square foot athletic facility headquarters to the Dallas Cowboys and shared with the City of Frisco in addition to the Frisco Independent School District that hosts weekly events and daily tours. The facility is located less than seven miles from the subject hotel. Dr Pepper Ballpark is located 4 miles north of the Hyatt Place Dallas Plano. Furthermore, major upscale retail and a variety of restaurants are located within destinations such as The Shops at Willow Bend, Stonebriar Mall at the Bridges, Legacy West and The Shops at Legacy. The Hyatt Place Dallas Plano offers shuttle services to all these destinations which are within a short driving distance from the hotel.

Agent for this listing

Chris Gomes

Senior Managing Director Investments, National Hospitality Group
Office: (972) 755-5302
Mobile: (972) 786-2719
Fax: (972) 755-5210
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