Ten-X Auction: April 5, 2021 - April 7, 2021 - Starting Bid: $3,500,000
- Highly Visible and Well Positioned in the Market with Desirable Hilton Franchise
- Offered Free and Clear of Management and Debt
- Implementation of Improved Revenue Management Will Provide Upside
- Attached Retail Space Leased to Hereford House Steakhouse
- 11,000 Square Feet of Meeting Space
- Large Parcel with Over 5.9 Acres Land
Investment Overview:
Marcus & Millichap, as an exclusive representative of the Seller, is pleased to present for sale to qualified investors the Hilton Garden Inn Independence. The offering is a 200-room, up¬scale, select-service hotel located just off Interstate 70 in the eastern region of the Kansas City MSA. The offering is for the hotel and the attached retail space currently leased to Hereford House Steakhouse.
The hotel is located within the Hartman Heritage shopping district, surrounded by many of the area’s shopping and entertainment options, including Independence Center (1 million SF indoor mall, 2nd largest mall in the metro), Silverstein Eye Centers Arena (home to the Maver¬icks and Comets, 100+ events and over 500,000 visitors per year), Bass Pro Shops and many other retailers. There are also two hospitals in the immediate vicinity of the hotel – Centerpoint Hospital to the north and Children’s Mercy East to the south.
A new investor should expect a change of ownership PIP from Hilton which will include items in the guest rooms and common areas.
Property Overview:
The Hilton Garden Inn Independence located in the eastern region of the Kansas City MSA is a 200-room, 2001 construction, upscale, limited-service Hilton branded hotel. The property recently went through a complete remodel of the lobby and common spaces with Hilton’s latest design standards. The property has an on-site restaurant, the Hereford House Steakhouse, a third-party restaurant, which also offers room service to hotel guests. Amenities at the hotel include 11,000 square feet of meeting space, a heated indoor pool, fitness center, business center, coined laundry, and a sundry shop. The guest rooms include high-speed wireless internet, a refrigerator, microwave, individually controlled air conditioning units, and flat-screen televisions. In addition to guestroom amenities, there are also two meeting spaces available for rent.
Location Overview:
Independence, Missouri is part of the Kansas City MSA. The Hilton Garden Inn Independence is located on Interstate 70 directly east of downtown Kansas City. The property is within driving distance of many of the city’s top employers including Cerner Corporation World Headquarters (17.8 miles), H&R Block World Headquarters (15.5 miles), DST Systems (16.1 miles), Hallmark Cards (14.1 miles), Truman Medical Center (15.4 miles), Children’s Mercy Hospital (15.5 miles), Saint Luke’s Hospital of Kansas City (16.3 miles), and the University of Missouri Kansas City (15.6 miles). The property is 15.3 miles from Downtown Kansas City and within close proximity to many popular demand generators and attractions like Silverstein Eye Centers Arena (two miles), Independence Center (1.3 miles), Bass Pro Shops (3.5 miles), Harry S. Truman Library, and Museum (7.4 miles), Worlds of Fun and Oceans of Fun (17.7 miles), the Kansas City Stadium Complex (8.3 miles), home of the Kansas City Chiefs and the Kansas City Royals, and a 30-minute drive or less to five casinos in the metro. Furthermore, 2.5 million people reside in the city and it is the region that is recognized as “America’s Creative Crossroads” as a center for technology and artistry. The region is the birthplace to fiber connectivity (Spring and Google Fiber), creative expression (Hallmark), consumer-lead tax prep (H&R Block), modern-day navigation (Garmin), the global health industry (Bayer), logistics and supply chain management (Kansas City Southern Railway and YRC) and electronic health records (Cerner).
Broker of Record
Brad Barham
License: MO 2013016939
