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<div style="display: flex; flex-direction: column; margin-top: 0.15rem; width: 200px; height: fit-content; align-items: left;
 justify-content: center; font-family: Inter,sans-serif; ">
 <img src="https://cf.reverecre.com/cdn-cgi/image/w=200,h=undefined,fit=scale-down/https://storage.googleapis.com/revere-user-uploads/project%2Fca5c07c3-d2f6-4092-970a-b19f62298e70%2Fcf13d52f-b99e-4fd7-a333-974dbdb7afe2" onerror="this.style.display='none'" alt="Permit Ready Hotel Site for Sale - Moreno Valley, California Image" style="object-fit: cover; width: 200px;" />
 Land / Hotel &amp; Hospitality 
 
 Permit Ready Hotel Site for Sale - Moreno Valley, California
 
 Moreno Valley, CA 
 By HREC

 <a href="/user/c22475a4-2c2b-4d97-8ccd-b9746956957f" style="margin-top: 0.5rem; font-size: 10px; text-decoration: underline;">Michael Armstrong</a>
 
 Principal
 
 
 <a href="tel:(760) 931-5606" style="margin-top: 0.25rem; font-size: 10px; text-decoration: underline;">(760) 931-5606</a>
 

 <a href="https://platform.reverecre.com/project/ca5c07c3-d2f6-4092-970a-b19f62298e70" target="_blank" style="text-decoration: underline; color: #2E74B3; text-align: left; margin-top: 0.5rem">
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 </a>
 </div>

HREC® - Hospitality Real Estate Counselors® is the nation's premier real estate advisory and brokerage organization specializing exclusively in the lodging and gaming industries.  Founded in 1994 by Michael Cahill, HREC® is actively involved in providing investment banking and consulting services throughout North America.

Vice President

Principal

Associate

Extended Stay Property: The extended stay model offers a prospective owner the opportunity to operate a low-cost, high flowthrough asset. This type of property typically has lower operational costs and higher profit margins compared to traditional limited service hotels.

Room for Growth in Current Submarket: Currently only 16% of branded hotels in Moreno Valley are extended stay products. This indicates there is potential for growth and market share capture in the extended stay segment within this area.

Strong Corporate Demand: Many corporations operate large facilities within a 5-mile radius of Moreno Valley, including Target, Procter & Gamble, Amazon, ALDI, Ross, and more. This concentration of major companies creates significant demand for extended stay accommodations in the area.

Diverse Economic Base: Beyond the major corporations mentioned, Moreno Valley boasts a diverse economic landscape including healthcare (with Riverside University Health System Medical Center), education (Moreno Valley College), and a growing e-commerce sector.

Strategic Location: Moreno Valley's proximity to major transportation hubs, including Ontario International Airport (approximately 20 miles away) and easy access to Interstate 215 and State Route 60, makes it an attractive location for business travelers and logistics operations.

Located in a Federal Opportunity Zone: The site is located in a federal opportunity zone, providing temporary deferral of taxes on previously earned capital gains, basis step-up of previously earned capital gains invested, and permanent exclusion of taxable income on new gains for any prospective developer.

Sales Team

HREC Investment Advisors is pleased to offer, to qualified investors, the opportunity to acquire the 1.21-acre hotel site entitled for 92 units situated at 24454 Sunnymead Blvd., Moreno Valley, CA 92553.

Mike Armstrong is a Principal and co-head of HREC's® capital markets practice. A 30-year hotel industry veteran, Mike brings extensive experience in debt & equity financing, hotel real estate sales, development, acquisitions and hotel management to his leadership role with the company. 

Prior to HREC®, Mike was the founder and president of Neptune Hospitality Advisors where he directed the company's advisory activities, including hospitality transactional services, debt & equity raising services, and asset management services. Over his career, Mike completed over $2.5 billion in real estate sales and financing. Notable transactions for Mike have included a $100 million refinance of a 11-hotel portfolio in California, the $40 million refinance of the Sheraton Gunter Hotel in San Antonio, Texas, and acquisition financing of $60 million on the Le Meridian Hotel in Cancun, Mexico. 

A graduate of the University of North Texas, Armstrong holds a Bachelor of Business Administration degree with an emphasis in Real Estate and Finance.

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