- Fee simple interest in the 104-unit, Hilton Garden Inn located in McAllen, Texas
- Well-positioned under 1 mile from Rio Grande Regional Hospital as well as South Texas Health System McAllen
- Next to I-2/Highway 83 | Located 2 miles from McAllen Airport and under 5 miles from the McAllen Foreign Trade Zone
- Premium branded Hilton select-service asset offered unencumbered of debt and management
- Nearby La Plaza Mall is set to complete a $50 million expansion and renovation in 2019, which will increase the number of national retailers and restaurants in addition to increasing the parking capacity by 2,000 new spaces
- Payne Arena is located 5 miles away | 7,000-seat arena that hosts ice hockey, football, and soccer games as well as concerts throughout the year
Investment Overview:
Marcus & Millichap is pleased to offer for sale a fee-simple interest in the 104-unit, Hilton Garden Inn located in McAllen, Texas. This well-appointed hotel was constructed in 2000 and is being offered well below replacement costs with the ability to retain the current franchise. All rooms offer contemporary décor and custom-designed beds, plus flat-screen TVs with premium cable channels, microwaves, minifridges, desks with ergonomic chairs, and free Wi-Fi. Suites add separate living areas with pull-out sofas, and some have whirlpool tubs. Cooked-to-order breakfast is available (fee), and there is a lounge and 24/7 convenience store. There is also a fitness center, an outdoor pool, and a whirlpool. Additional amenities include 2 meeting rooms and a business center, plus free parking. Next to I-2/Highway 83, the hotel is less than 10 minutes from McAllen International Airport, three miles of La Plaza Mall, Quinta Mazatlán estate and gardens, and McAllen Convention Center.
McAllen is the largest city in Hidalgo County, Texas, United States, and the 21st-most populous city in Texas. As of 2019, McAllen’s population was estimated to be 143,268 and it is the fifth-most populous metropolitan area in the state of Texas. Hidalgo County (Hidalgo) is the eighth-most populous county in the state of Texas. Hidalgo’s county seat is Edinburg, but the city of McAllen is the largest population center. McAllen is part of the McAllen- Edinburg-Mission Metropolitan Statistical Area (MSA) and it is located in the Rio Grande Valley of South Texas. Home to nearly 850,000 residents, it is one of the fastest-growing counties in the United States and the fifth-most populous MSA in Texas. McAllen’s population has increased by approximately 11% since 2011 and the Rio Grande Valley’s population is estimated to exceed one million residents by 2020. Historically, McAllen’s growth was driven by agriculture and petroleum, and while these sectors still play a prominent role in the economy, McAllen’s designation as a foreign trade zone has established the city as a major hub for international trade and distribution.
The hotel is centrally located near the 6 campuses of South Texas College, including the 2 campuses in McAllen. South Texas College is a public community college in the Rio Grande Valley region of South Texas with an annual enrollment of approximately 31,000 students and a staff of 1,6000 working across six campuses. The Texas A&M University Higher Education Center at McAllen enrolls over 60,000 students each year. The focal point of economic activity in McAllen has shifted from agriculture to international trade, health care, retail, and tourism. McAllen is within the limits of Hidalgo County which exists within the maquiladora zone, which is a free trade zone between the United States and Mexico manufacturers. The McAllen foreign trade zone number 12 is the number one inland or non-seaport foreign trade zone in the United States. Under U.S. and Mexican laws and NAFTA provisions, the FTZ designation offers specific cost-saving opportunities to manufacturers. South Texas Health System (STHS) is a regional multi-hospital system that has earned a reputation for excellence in providing quality healthcare to residents of the Rio Grande Valley. The HGI is conveniently located less than one mile from the Rio Grande Hospital, McAllen hospital, and the Hart hospital.
Market Overview:
The McAllen Convention Center is located west of downtown three miles from the Hotel. The 174,000 sq. ft. building has a seating capacity of 3,500 and hosts local sporting events, concerts, and business meetings. The convention center host over 500 events throughout the year with an average attendance of 400,000 annually.
H-E-B Park is a soccer stadium located ten miles north of downtown McAllen and approximately 11-miles from the Hotel. It is home to the Rio Grande Valley FC Toros who play 13 home games at the stadium throughout their season that runs from March through September. After successfully hosting the 2018 CONCACAF Women’s Championships, H-E-B Park is well-positioned to be awarded future international sporting events.
McAllen International Airport is two miles south of McAllen, in Hidalgo County, Texas, United States. The National Plan of Integrated Airport Systems for 2017–2021 categorized it as a small hub primary commercial service airport. In general, from the United States, Allegiant Air, Air Canada, and Copa Airlines fly the most to McAllen. The airport has one terminal with six gates.
La Plaza Mall is a regional shopping mall located in McAllen, Texas, at the intersection of Interstate 2 and 10th Street. It has 1,300,000 square feet of gross leasable area and features 184 specialty stores, many of which are flagship stores, and restaurants.
McAllen Heart Hospital is a 60-bed cardiovascular disease hospital in McAllen, Texas. It was the freestanding heart hospital in the United States The hospital provides comprehensive inpatient and outpatient cardiac care, a 24-hour Emergency Center, General and Weight Loss Surgery programs.
Rio Grande Regional Hospital in McAllen Texas has been serving the Rio Grande Valley for more than 30 years. Since opening in 1982, they have been committed to providing high-quality compassionate healthcare you can trust. As an HCA hospital, Rio Grande Regional has the support of the nation's leading provider of healthcare services. Rio Grande Regional Hospital has 320 beds and a team of more than 500 physicians representing over 35 specialties.
South Texas College (STC) is a public community college in the Rio Grande Valley region of South Texas. It is accredited by the Commission on Colleges of the Southern Association of Colleges and Schools to award Bachelor of Applied Technology, Associate of Applied Science, Associate of Arts, and Associate of Science degrees. STC has an enrollment of approximately 31,000 students and a staff of 1,600 working across six campuses.
