Listing Agents
Eric Skipworth
312.248.4109
eskipworth@paramountlodging.com
Andrew Makhlouf
312.610.9067
amakhlouf@paramountlodging.com
Detailed Information
Location
Property Highlights
- Fee simple interest in the institutionally owned and third-party managed 226-key DoubleTree by Hilton Grand Rapids Airport offered for purchase through a traditional sale
- Upscale, premium-branded Hilton asset offered unencumbered of debt and management at a significant discount to replacement cost
- Ability for qualified buyers to retain the DoubleTree flag with a new long-term license upon completion of the change of ownership PIP
- Substantial operational upside in transitioning away from a larger institutional owner and national third-party operator to an investor with more regional operating economies of scale
- Less than three miles from the Gerald R. Ford International Airport, which is undergoing a $500M expansion and enhancement project to accommodate additional airport gates and passenger growth
- Readily accessible to downtown Grand Rapids and Interstate-96 with upwards of 79,000 vehicles of daily traffic
- Proximate to all Grand Rapids healthcare demand, including the Grand Rapids Medical Mile: home to Butterworth Hospital, Meijer Heart Center, Helen DeVos Children’s Hospital, Michigan State’s Grand Rapids Research Center, and Lemmen-Holton Cancer Pavilion
- Located close to all local and regional corporate demand, including Spectrum Health, American Seating, Steelcase, Haworth, GE Aviation Systems, Alticore/Amway, Acrisure, Bissell, Highlight Industries, Spartan Nash, Foremost Insurance Company, Meijer, Wolverine, Universal Forest Products
- Proximate to local leisure demand, including Grand Rapids Public Museum, General Ford Presidential Museum, and John Ball Zoo
- Located close to all local and regional university demand, including Western Michigan University Grand Rapids, Calvin University, Aquinas College, Cornerstone University, Davenport University, Kyper College, Ferris State University, and Grand Valley State University in neighboring Allendale Township
- The Grand Rapids MSA is home to over 1.0M people and is the second largest MSA in Michigan