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2455 Delk Rd SEMarietta, GA 30067
Courtyard Atlanta Marietta/I-75 North
Asset ClassHotel & Hospitality
Year Built: 1986Year Renovated: 2018Access Data Room
Located directly off I-75, one of the most trafficked interstates in the U.S. and a vital north-south transportation artery for the nation
overview of deal

Overview

Hodges Ward Elliott is pleased to offer the opportunity to acquire the 146-key Courtyard Atlanta Marietta/I-75 North. Opened in 1986 and most recently renovated in 2018, the Marriott-branded Property enjoys a central location directly off I-75 near Dobbins Air Reserve Base (5 minutes), The Battery Atlanta & Truist Park (Home to the MLB Atlanta Braves) (9 minutes), Cumberland Mall (10 minutes), Kennesaw State University (12 minutes), Wellstar Kennestone Hospital (12 minutes), Downtown Atlanta (20 minutes), LakePoint Sports (25 minutes), and Hartsfield-Jackson Atlanta International Airport (30 minutes).

 

Additionally, 33.1 million square feet of office space lies within a five-mile radius of the Hotel including three Fortune 500 company headquarters. The fee simple offering represents the opportunity to own an institutional-quality, select service hotel in one of the Sun Belt’s fastest-growing metropolitan areas.

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Investment Highlights

  • PREMIER ACCESSIBILITY

The Courtyard is located directly off I-75, one of the most trafficked interstates in the U.S. and a vital north-south transportation artery for the nation. Running from the Canadian border in Michigan to Miami, Florida, I-75 connects both to Downtown Atlanta and the Northern suburbs, providing the Property with premier accessibility. Additionally, the Property is just minutes away from I-285, which encircles Atlanta and connects to the three major interstate highways to the city, placing the Hotel in one of the most ideal locations in the Atlanta MSA.

 

  • CENTRAL LOCATION NEAR DOBBINS AIR RESERVE BASE

Less than two miles west from the Property is Dobbins Air Reserve Base, home to Aerospace contractors like Lockheed Martin and over 2,000 Airforce Reservists and 4,000 members of the Army, Navy, and Marine Corps. The Courtyard Atlanta Marietta/I-75 North is in premium location to capitalize on the $187 million dollars of economic impact generated by the Dobbins Air Reserve Base each year.

 

  • PROXIMITY TO THE BATTERY DEVELOPMENT

The Property is just under three miles away from The Battery, Atlanta’s premier live-work-play destination which includes Truist Park, the home of the Atlanta Braves. The 2.25 million-square-foot mixed-use development was completed in 2017 and has reshaped the Galleria/Marietta submarket. Centrally located at the convergence of I-75 and I-285, The Battery is open year-round and features restaurants from many of Atlanta’s most acclaimed chefs, some of Atlanta’s most well-known bars, national retailers, and multi-family housing. The Battery is also home to Coca-Cola Roxy, a 4,000-seat entertainment venue showcasing live music from all genres. Taxable property values at The Battery have risen from $5 million in 2014 to $736 million in 2022 thanks to the Braves’ development and investments in the area.

 

  • SURGING CORPORATE DEMAND

Within a five-mile radius of the Hotel, there are 33.1 million square feet of office space, including the headquarters of three Fortune 500 companies: The Home Depot, Genuine Parts, and the recently relocated Floor & Décor. Located approximately three miles away, The Battery Atlanta hosts several corporate and regional headquarters, such as Papa John’s Pizza, Comcast, TK Elevator, and Southwire. The surrounding office market has also seen a strong recovery, with a Class-A office vacancy rate of 18.3%, compared to 25.4% for the overall Atlanta market.

 

  • POWERHOUSE OF LAKEPOINT SPORTS

LakePoint Sports is a prominent travel sports destination in the Southeast, conveniently located just off I-75 and less than 25 minutes away from the Property. The complex spans 1,300 acres and employs 1,200 staff members. It boasts state-of-the-art sports facilities and offers an impressive 5 million square feet of current and future amenities, such as on-site hotels, restaurants, themed retail, bowling, ziplines, and water parks. With an estimated six million annual visitors, LakePoint Sports plays a crucial role in generating approximately $250 million in tax revenues for the city of Atlanta.

 

  • STRONG EDUCATION DEMAND

Located just ten minutes from the Property is Kennesaw State University, the third-largest university in Georgia with over 45,000 students and 180 degrees and programs. Additionally, located less than half a mile from the Courtyard is the Georgia Highlands College and the Gwinnett College Atlanta-Marietta, a staple of affordable education in the local area.

 

  • THRIVING HOTEL SUBMARKET

With a 6.2% RevPAR CAGR from 2009-2019, Atlanta has been one of the top-performing lodging markets in the Sun Belt over the past decade. This outperformance has continued throughout the course of the pandemic. On a rolling 12-month basis, Atlanta’s ADR and RevPAR were well above pre-pandemic levels in June 2024. Even more impressive, the submarket’s twelve-month RevPAR has been climbing at an exceptionally strong rate. As of June, T-12 RevPAR in the Galleria/Marietta hotel submarket is 5.2% larger than pre-pandemic highs (2019 year-end).

 

  • SUN BELT GROWTH

Atlanta is one of the most prominent cities in the Sun Belt, the most desirable region for investment in the country. Over the past decade, the Sun Belt region remarkably accounted for 75% of total U.S. population growth. According to a report from Clarion Partners, Sun Belt population growth is expected to accelerate by another 19 million (13%), while non-Sun Belt states are projected to rise by only three million (2%). Statistics show all ages gravitating to the area for its business-friendly environment, lower cost of living, quality of life, temperate climate, and job opportunities.

 

  • NO NEW SUPPLY RISK

There are no hotels under construction in the Galleria/Marietta submarket, providing a new owner the unrivaled opportunity to capture a large share of the market for the foreseeable future.

 

  • MARRIOTT BRAND ADDS SIGNIFICANT VALUE

The Property benefits from its affiliation with Marriott, the world’s most recognizable and top-performing hospitality brand. Marriott provides centralized marketing, booking, and rewards systems, providing the Hotel with access to 200 million Marriott Bonvoy members. Courtyard by Marriott is a top tier brand and arguably one of the most valuable franchise brands in the limited-service space in the US. The brand currently has approximately 1,100 Properties nationwide, along with 20 Properties totaling 2,521 rooms in the US pipeline, demonstrating a high level of growth. In addition, this growth translates to owner confidence in long-term cash-on-cash returns as well as reversion value.

 

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DEAL TEAM

Clint HodgesManaging Directorchodges@hodgeswardelliott.com
Austin BrooksManaging Directorabrooks@hodgeswardelliott.com
Chase WoodAssociatecwood@hodgeswardelliott.com
Michael Britvan Managing Directormbritvan@hodgeswardelliott.com
Wyatt KrapfManaging Directorwkrapf@hodgeswardelliott.com
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