Listing Agents
Michael Sheppard
T | 505.515.1850
[email protected]
Subu Thiagarajan
T | 510.205.7931
[email protected]
DRE#01891134
Adam Montufar
T | 515.446.4181
[email protected]
Detailed Information
Location
Property Highlights
- Fee simple interest in the 133-key, five-story, concrete Drury Inn & Suites Sugar Land, available exclusively through a traditional sale
- Presenting a unique opportunity to acquire an institutional-grade asset in a Top 5 MSA at a substantial discount to replacement cost
- Offered unencumbered by the Drury flag and brand management at sale
- Several attractive conversion flags are available from Marriott, Hyatt, IHG, Choice, Wyndham, Sonesta, and more
- Ideal location adjacent to Interstate 69 in Sugar Land, a premier Houston suburb, with upwards of 165,000 vehicles passing the location daily
- Within proximity to the 1.4 million square foot Sugar Land Town Square and the 1.1 million square foot First Colony Mall, offering numerous retail stores, restaurants, office spaces, and condominiums
- Minutes from the planned 53-acre Lake Point Plaza redevelopment, a mixed-use waterfront district with retail, restaurants, and entertainment venues, various residential components, a conference center & exhibition hall, boutique office space, and medical and life sciences facilities
- Convenient to all broader metro demand, including Houston’s largest convention centers, Houston Methodist Medical Center and Memorial Hermann Sugar Land, major sports arenas, Downtown, the NASA Space Center, Houston Zoo, and more
- Continued positive outlook for Houston, the Energy Capital of the United States, with WTI price per barrel stabilizing in the upper $70s (62%+ increase since January 2021), an overarching positive for energy demand and O&G corporate investment
- Houston is an ideal investment target with nearly seven million residents, the second-highest number of Fortune 500 headquarters in the U.S., and a highly favorable tax climate, making it one of the fastest-growing MSAs in the country for two consecutive decades
- Houston has been designated as a host city and potential hub site for the 2026 World Cup; with seven matches planned at NRG Stadium, the anticipated economic impact is estimated to exceed $1.3 billion