- 146-Room, Three-Story, Select-Service Hotel
- Easy Access to Heavily-Trafficked Interstate 635 and Interstate 35
- Minutes from the Dallas-Fort Worth International Airport and Love Field Airport
- On-Site Dining at The Bistro
- Fourteen Miles from Downtown Dallas
- Four Miles from the Dallas Galleria
- Possible Extension of Existing 16-Year License Term by an
- Additional Five Years with the Completion of Proposed Exterior Modification
Investment Overview:
Marcus & Millichap, as an exclusive representative of the Seller, is pleased to present the Courtyard Dallas Northwest in Dallas, Texas. The offering is an upscale, select-service, Courtyard by Marriott hotel consisting of 146 rooms with easy access to the heavily-trafficked Interstate 635 and Interstate 35. The subject property underwent a $2.9-million renovation in 2015 to include complete public areas and guest rooms upgrade.
Multiple leisure and business demand generators are located within the region. Major corporations such as the IBM Global Solution Center, AT&T, UPS, Home Depot, McKesson, Cisco Systems, and Schneider Electric are within close proximity to the subject hotel. Other major demand generators include the Addison business hub, Dallas Market Center, Dallas Convention Center, and The Galleria shopping center. The Dallas Love Field Airport and the DFW International Airport are within minutes of the subject property.
The Courtyard Dallas Northwest is offered fee simple and unencumbered by management. The prospective investor will have to assume the in-place nonrecourse CMBS debt with a current balance of approximately $12.15M at an interest rate of 5.54 percent, amortized over 25 years and due in November 2026.
Property Overview:
The Courtyard Dallas Northwest is a 146-room select service hotel located in Dallas, Texas. Built in 1987, and completely renovated to Courtyard specifications in 2015, the three-story asset is concrete block and plank construction and boasts modern finishes and amenities. Hotel amenities include two meeting rooms with 1,248 square feet of total event space, high-speed internet, wireless internet access, business center, fitness center, on-site parking, on-site dining, and an outdoor pool. Each room includes a mini refrigerator, microwave, separate workspace, and
sofa-sleeper.
Location Overview:
Dallas, Texas is the largest urban center of the fourth most populous metropolitan area in the United States. The Courtyard Dallas Northwest has direct access to Interstate 635. This desirable location is attractive to business and leisure travelers alike. There are multiple Fortune 500 companies located within the region which include Ernst & Young (13.5 miles), IBM Global Solution Center (9.1 miles), Fannie Mae ( 6.1 miles), PricewaterhouseCoopers (14.0 miles), and Cisco Systems (5.5 miles). Just five miles from the property, one of the most significant developments in 30 years built along the LBJ Freeway is a High-rise mixed-use project, which is a 23-acre planned development and will include two office towers, retail, a cinema and more.
This future development will enhance the already in place demand drivers. Furthermore, the region offers a significant amount of local attractions for leisure activities which all sit within a 30-mile radius of The Courtyard Dallas Northwest. Some attractions include the Dallas Cowboy’s Stadium (23.4 Miles), Dallas World Aquarium (14 Miles), and Downtown Dallas (15 Miles). The Dallas Love Field Airport (12 miles) and the Dallas Fort Worth International Airport (13.3 miles) are available for travelers.
