Overview
HREC Investment Advisors (“HREC IA”) is pleased to offer, to qualified investors, the opportunity to acquire the fee simple interest in the 297-room DoubleTree Hotel Minneapolis - Park Place (“Hotel” or “Property”), situated at 1500 Park Pl Blvd, Minneapolis, MN 55416.
The DoubleTree Hotel Minneapolis – Park Place presents a compelling repositioning opportunity in St. Louis Park, offering 6.33 acres of land and immediate proximity to the West End, one of the most active mixed-use districts in the Twin Cities. The Property’s location along Interstate 394 offers strong access to the Twin Cities metro area, while surrounding development activity continues to increase density and drive demand in the submarket.
Continued investment in the West End - including the recent groundbreaking of Terasa at West End, the success of 10 West End's Class A office, and ongoing mixed-use expansions around the Shops at West End - combined with the district's notably low 12.8% office vacancy rate and limited remaining developable land, enhances the long-term value of well-located parcels like this. Given the scale of the site and its proximity to this high-performing retail, dining, and employment hub, the Property is well-suited for a range of redevelopment strategies, including a multifamily conversion, full site redevelopment, or a phased approach incorporating new residential, retail, or mixed-use components.
The opportunity is further supported by strong surrounding demand generators, including corporate headquarters, regional employers, and nearby healthcare, as well as convenient access to downtown Minneapolis. Ongoing infrastructure improvements, including the planned METRO Green Line Extension, are expected to further strengthen connectivity and support future redevelopment potential within the immediate area.
Investment Highlights
Strong Corporate Demand
The Hotel sits within five miles of a remarkable concentration of corporate headquarters and offices — including Allianz Life Insurance, General Mills, Pentair, Mortenson, and Resideo Technologies — giving it direct access to one of the densest Fortune 500 corridors in the country. The broader Golden Valley and West End submarket continues to attract and retain major employers, underpinning a stable and growing base of corporate lodging demand.
Proximity to Downtown Minneapolis
The DoubleTree’s location along I-394 provides direct access to Downtown Minneapolis, home to U.S. Bank Stadium, Target Center, and Target Field. With a robust pipeline of major sporting and civic events scheduled through 2029 — including WWE SummerSlam, the NCAA Men's Basketball Tournament, and the NCAA Wrestling Championship — demand overflow into Minneapolis' western suburbs is poised to grow meaningfully in the coming years.
Potential for Redevelopment to Alternative Use
The DoubleTree's 6.33-acre parcel sits at the thriving intersection of I-394 and Park Place Boulevard in the West End — one of the Minneapolis metro's most dynamic and fastest-growing submarkets. Subject to zoning entitlements, the site presents a compelling opportunity for conversion or redevelopment into a mixed-use project, whether residential, retail, office, or some combination thereof, capitalizing on the surrounding density of Fortune 500 employers and retail amenities.
RevPAR Upside with Renovation
As of January 2026, the Hotel ranked fourth for RevPAR among the five hotels in its competitive set. A targeted renovation program would position the asset as one of the top full-service assets in a prominent suburban market, driven by multiple demand generators.
No New Supply
Currently, there is no new supply that is either under construction, planned, or in the final planning stages in Minneapolis’ western suburbs. This will allow an investor to capitalize on a renovation and continue to grow both occupancy and ADR.
Fee Simple Interest
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