- 111-Unit, Six-Story, Full-Service Four Points by Sheraton Development Project
- Excellent Visibility and Curb Appeal, and Convenient Access from North Central Highway
- Four Points by Sheraton's Newest Prototype Design Scheme
- Four Points by Sheraton – Now Part of the Marriott Family of Brands
Investment Overview:
Marcus & Millichap is proud to exclusively present, on behalf of the seller, an opportunity to acquire a proposed111-unit, six-story, select-service Four Points by Sheraton Development Project in Richardson (Dallas Fort Worth MSA). The proposed development is located along North Central Expressway (Highway 75) at University Avenue. The offering consists of 1.43 acres of prime land facing Highway 75; the development project is already approved by the city of Richardson including final plat, building layout, exterior rendering, and parking approvals. The site is located only a mile away from the Cityline development which houses the headquarters for State Farm Insurance Company and Raytheon. Geico’s corporate office is just 1.5 miles from the subject site.
Location Overview:
The city of Richardson, Texas, is in Collin County and is a part of the greater Dallas/Fort Worth metroplex, located approximately 10 miles north of downtown Dallas. Richardson is home to the University of Texas Dallas and the Telecom Corridor, with a high concentration of telecommunications companies including AT&T, DirectTV, Verizon, Cisco Systems, Samsung, MetroPCS, and Texas Instruments. The site is not only located near numerous major employers, but also several entertainment options and attractions. The Four Points by Sheraton development is 0.3 miles from the Eisenmann Center for Performing Arts, 17.4 miles from the Texas Fair Park, 18.9 miles from the Bishop Arts District, and 16.2 miles from the Dallas Arboretum and Botanical Gardens.
Richardson is one of the more affluent inner suburbs of Dallas, with more than 52 percent of the population possessing a bachelor degree or higher and a median family income of $72,427. Richardson was ranked "AAA," the highest ranking offered by both Moody and Standard & Poor’s. Richardson is home to multiple colleges and universities including the University of Texas at Dallas and IIT Technical Institute Richardson.
