Overview
The Hilton Garden Inn North Happy Valley is nestled in the rapidly growing North Black Canyon Corridor surrounded by year-round demand generators such as the PetSmart headquarters, ASU West Campus, FBI regional office, and AAA regional operations office. In addition to existing corporate demand, the Hotel is extremely proximate to the $12 billion Taiwan Semiconductor Manufacturing Company Semiconductor Plant which is expected to create over 25,000 direct jobs and manufacture 20% of the world’s semiconductors by 2030. The Hotel’s interstate location also offers easy access to downtown Phoenix, Phoenix Sky Harbor Airport, the Arizona State University, I-17/Loop 101 interchange to the North, and I-17/I-10 interchange to the south. The four-story, interior corridor Property was built in 2007 and includes an outdoor pool, on-site bar & grill, business center, and a fitness center.
This opportunity is offered fee-simple and unencumbered by management, allowing an investor maximum control over the operations and activities of the Hotel.
Investment Highlights
Minimal Change of Ownership PIP - Since the start of 2024, the Property underwent nearly $2.4M in renovations with additional capital expenditures planned to commence on June 1st.
Strong In-Place Cashflows - From 2022 to the April T-12, the Property has achieved NOIs ranging from $1.2M to $1.8M with a 3% management fee and 4% reserve factored in.
Prime Location off I-17 within Black Canyon Corridor - The Hotel is located off I-17, allowing for easy access to the Phoenix Metro Area’s most robust demand generators. Locally, the Hotel is in the rapidly growing North Black Canyon Corridor surrounded by regional and national headquarters for companies, and home to TSMC’s $165 billion semiconductor plant.
Benefits from Phoenix’s Rapidly Growing Economy - Phoenix is ranked the 4th fastest growing city in the nation, housing the headquarters of eight Fortune 500 companies. In 2024, Phoenix Sky Harbor International Airport broke its all-time passenger record with 52.3M passengers passing through the airport.
Unencumbered by Management - The Property is being offered unencumbered by a management agreement, presenting a new owner with maximum control over the operations and activities of the Hotel, allowing them to apply a more strategic marketing plan to drive revenue and impose strict cost control measures to ensure more efficient operations.
Fee Simple Interest - The Property is being offered fee simple.
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