- Shovel-Ready Hotel Development Opportunity
- 24 Percent Five-Year IRR | 20 Percent Cash on Cash Return
- Surrounded by Employers including Amazon, Pepsi, Kellogg's and The Home Depot
- Excellent Visibility from Interstate 205
Marcus & Millichap has been chosen to exclusively market for sale the Marriott TownePlace Suites Tracy, an approved four-story limited service extended stay hotel located in Tracy, California. The hotel will consist of 112 interior corridor rooms with excellent visibility and signage on Interstate 205. Amenities will include hot breakfast, grills, free Wi-Fi, on-site laundry, fitness center, pool, and business center. Guest rooms will be equipped with a flat panel television, work desk with ergonomic desk chair, and a full kitchen.
Marriott TownePlace Suites Tracy is located in the town of Tracy, California which is the second most populated city in San Joaquin County. Tracy is part of the San Jose-San Francisco-Oakland, CA Combined Statistical Area, an extension of the bay area. in September of 2009 the city of Tracy launched the Emerald Tracy Project that could make Tracy the second city after Riverside to satisfy the state’s goal for sustainable communities. The city prospered as an agricultural area after the first irrigation district was established in 1915. Tracy has a number of wineries and is about 10 miles away from the Big League Dreams complex.
TownePlace is an affiliate of Marriott International, Inc. With more than 90 years of experience and more than 325,000 associates at managed and franchised hotels worldwide, Marriott franchises more than 6,500 hotels across 127 countries. Marriott International, Inc. offers the advantages of a strong balance sheet, sound management and a record of industry leadership. Guided by family leadership, the company reported revenues of more than $22 billion in the fiscal year 2017. The company’s business model, brands, senior leaders, and a deeply ingrained service culture have firmly established Marriott as a leading performer.
The Marriott TownePlace Suites Tracy represents the opportunity to acquire a shovel-ready 2.65-acre parcel to develop a well-appointed franchised hotel in a high growth secondary market in the Bay Area. Our Pro Forma analysis assumes modest continuous revenue growth upon completion of the development.
Located in the Greater Bay Area, Tracy is the second most populated city in San Joaquin County. The latest census in 2018 has Tracy with a population of 90,889. Contained in the aptly named geographic triangle formed by Interstate 205 on the north side of the city, Interstate 5 to the east, and Interstate 580 to the southwest; this has given rise to City’s motto, “Think Inside the Triangle”. Areas in the east and north have seen ever increasing development as the San Francisco Bay Area’s population has spilled over into Tracy, as well as brand new locales such as the newly formed town of Mountain House near the Bay Area’s edge, largely due to Tracy’s Measure A in 1990.
Tracy is a hub for Advanced Manufacturing, Transportation, Technology, and Health and Human Services. These employment sectors are projected to see the highest growth rates in terms of skilled labor jobs in Tracy. Large employers in the Tracy area and the region at large include Amazon, Tesla, Sutter Health, Kaiser Permanente, FedEx, Medline, GlassFab Manufacturing, and Pacific Medical. Tracy’s strategic location offers the opportunity to intercept Altamont commuters and draw from other San Joaquin cities to provide a broad skill-based workforce.
The Economic Development Division seeks to promote and pursue commercial, industrial, and office development within the City to create a diversified and sustainable economic base for the community.
From 2015 to 2016, employment in Tracy, CA grew at a rate of 4.28%, from 38,794 employees to 40,456 employees.
The presence of two major universities; California State University Stanislaus, Tracy CA & Notre Dame de Namur University - Tracy Campus supports a local population with a high level of educational attainment and the relocation of knowledge-based businesses.
With the recent expansion of the 580 Freeway and the connection of the ACE Train to BART, Tracy has become an extremely desirable community for employers and residents connected to the San Francisco Bay Area.
Areas in the east and north have seen ever increasing development as the San Francisco Bay Area’s population has spilled over into Tracy, as well as brand new locales such as the newly formed town of Mountain House near the Bay Area’s edge, largely due to Tracy’s Measure A in 1990.
Tracy provides companies with a competitive edge called the Tracy Advantage. Their strategic location gives access to many major markets like Los Angeles, San Francisco Bay Area, Sacramento, and San Joaquin Valley. The city is very aware that location directly affects profitability. In the Central Valley, Tracy has one of the most diverse skilled labor forces and populations. Tracy has an educated population with college graduation or attended rate of 56%. The city of Tracy helps work with businesses to keep up with current codes and safety standards for building, electrical, plumbing, mechanical and various state and municipal codes for new construction, remodeling, additions, and demolitions. Tracy considers economic development the highest priority and has an innovative approach to development and land use. Tracy offers multiple factors to aid in a successful business such as a beneficial geographic location, access to major highway and rail systems, a business-friendly community, a skilled and educated workforce, affordable land prices, and quality housing.
Broker of Record
License: CA 01253407