INNPLACE HOTEL PHOENIX NORTH

C-III Realty Services and Rockwood Real Estate Advisors are pleased to offer for sale
the Leasehold interest in the InnPlace Hotel Phoenix North, a 284-key, full-service
Midscale hotel located in Phoenix, Arizona (the “Hotel” or “Property”).
The Hotel is centrally located at Exit 208 – Peoria Avenue of Interstate-17 (Black
Canyon Highway). This northwest Phoenix location is the closest hotel to the BLM
National Training center with CIGNA, Liberty Mutual, TriWest and Petsmart Corporate
Headquarters close-by. The Hotel is adjacent to the Metrocenter indoor shopping mall
with a variety of entertainment and restaurants venues within walking distance.
This investment opportunity affords significant upside through rebranding with revenue
enhancements and operating cost improvements.
INNPLACE HOTEL PHOENIX NORTH
PHOENIX, ARIZONA
KEY PROPERTY INFORMATION
Address
10220 N. Metro Parkway East
Phoenix, AZ 85051
When Built
1983
Ownership Interest
Leasehold (currently through 2047 with 33 year extension
available, 67 years total)
Brand Affiliation
InnPlace Hotels (membership affiliation brand with short term
licensing)
Number of Rooms
284, including 18 Suites
Corridors
Interior
Land Area
5.379 +/- acres
Building Height
4 Stories
Food & Beverage
Full Service Restaurant and Lounge
Meeting Space
14,000 SF including Foyer and Suites
Internet Access
Complimentary wireless access available throughout the Hotel
Parking
311 +/- spaces
Life Safety
Sprinklers and smoke detectors throughout Hotel
Fitness & Recreation
Heated outdoor pool, whirlpool and fitness center
Hotel Amenities
and Features
Business center, guest laundry, pet friendly
YTD May
YE 2009
Occupancy
ADR
RevPAR
YE 2010
YE 2011
YE 2012
Real Estate Advisors
2013
41.9%
51.6%
21.6%
17.2%
24.2%
29.3%
$74.59
$69.63
$69.28
$73.84
$82.50
$68.11
$31.25
$35.91
$14.93
$12.74
$19.97
$19.98
Room Revenue
$3,239,544
$3,722,273
$1,094,268
$1,323,819
$862,274
$856,795
Total Revenue
$4,212,370
$4,774,636
$1,482,751
$1,614,305
$1,029,650
$967,980
Source: Property Operating Statements and RREA
Note: Occupancy, ADR & RevPAR are per Property Operating Statements and may vary from Smith Travel Research (STR)
Rockwood
2012
Tatum
Tatum Ranch
Ranch Golf
Golf Course
Course
INVESTMENT HIGHLIGHTS
17
G
North Scottsdale
Peoria
F
Greenway Road
Sun City West
101
G
60
89
101
Surprise
F
hunderbird Road
Scottsdale
Black Canyon Freeway
35th Avenue
Phoenix
19th Avenue
Sun City
Glendale
North Mountain Village
E
A B
D
C
51
Cactus Road
North Mountain
Desert Cove Avenue
E
Peoria Avenue
Avondale
B
A
10
Goodyear
D
Demand Map
Phoenix
Downtown
Phoenix
B
Metrocenter Mall
C
Liberty Mutual
D
Castles N Coasters
E
Cigna HealthCare
F
Triwest Healthcare
G
PetSmart SSG Corporate Office
Phoenix Sky Harbor Intl
143
202
Central
7th venue
Dunlap Avenue
85
A
Bureau of Land Management
(BLM)
National Training
Paradise
ValleyCenter
80
Hatcher Road
C
InnPlace Phoenix North
60
15th Avenue
101
17
*
7th Street
Black Canyon Freeway
23rd Avenue
Luke Air Force Base
202
101
Mesa
Tempe
60
Centrally Located for Business and Guest Support Services
>> I-17 Black Canyon Corridor location provides nearby access to major
corporations such as Liberty Mutual, Waste Management, Cox Communications,
Petsmart and TriWest Corporate Headquarters.
>> Adjacent to Metrocenter indoor shopping mall, with over one million square
feet of shopping, dining and entertainment options.
>> Downtown Phoenix and the Sky Harbor International Airport are approximately
a 15 minute drive from the Hotel.
Current InnPlace Brand provides Expedient Repositioning Upside
Opportunity
>> The InnPlace hotel brand (membership affiliation) provides for a transition to
alternative brands without liquidated damages.
>> Under the previous brand, the Property achieved post-recession, $3.7MM in
room revenues and $4.8MM in Total Revenues, showing the upside potential
with a national brand franchise platform.
>> A number of alternative branding options are available for investor repositioning
consideration.
Rockwood
Real Estate Advisors
101
Versatile In-house Functional Space
>> The Hotel’s F&B operation, meeting and banquet space, outdoor pool, patio
and lawn event area, fitness center, spacious guest rooms and suite rooms
provide an excellent platform in marketing to transient business, leisure and
group, as well as local meeting and banquet events.
>> The Hotel features 14,000 square feet of versatile meeting space including
a 4,000 square foot Grande Ballroom and a 2,300 square foot Mesquite
Ballroom.
>> The Hotel has the largest size standard guest rooms in the competitive set.
Acquisition of Well Located, Full-Service Asset at Well Below
Replacement Cost
>> Solid construction and in good physical condition.
>> Modest capital investment is anticipated for a Property Improvement Plan
typically required to license with a national brand-affiliated property.
>> With new construction of Full Service hotels exceeding $100,000 per key, this
hotel is available substantially below replacement costs.
For More Information, Please Contact:
Anthony Falor
Managing Director
973-727-0314 (Cell)
[email protected]
Jules Sherwood
Senior Vice President
720-274-5990
[email protected]
Arizona License No. BR626263000
No warranty or representation, express or implied, is made as to the accuracy of the information
contained herein, and same is submitted subject to omissions, change of price, rental or other
condition, without notice, and to any listing conditions, imposed by the Owner.
DO NOT CONTACT THE MANAGEMENT STAFF OF THE PROPERTY.