Listing Agents
Eric Skipworth
312.248.4109
eskipworth@paramountlodging.com
Mike Schlictman
T | 803.920.4173
mikes@paramountlodging.com
Andrew Makhlouf
312.610.9067
amakhlouf@paramountlodging.com
Detailed Information
Location
Property Highlights
- Fee Simple interest in the 127-room institutionally owned and operated Hyatt Place Auburn Hills Detroit
- Property offered unencumbered of debt and management with the ability to retain the Hyatt Place flag with a new long-term license agreement with Hyatt
- Strong top-line and bottom-line operational upside through completion of the PIP and repositioning of the sales strategy
- Adjacent to I-75 and the University Drive full-diamond interchange serving the expansive University & Opdyke corridors
- Approximately two-miles from Oakland University – the second largest university within the Detroit Metropolitan area – with current enrollment of +20,000 students (a 59% increase over the past ten years), a Division I NCAA sports program, and approximately $50MM in current / planned expansions
- Approximately two-miles from the 5.3MM SF Stellantis North America Headquarters – home to Fiat Chrysler, a ‘Big Three’ auto manufacturer and one of the largest employers in the state with ~46,000 Michigan employees
- Readily accessible to the GM Lake Orion auto-plant which is set to receive $4B in new investments and the former Palace of Auburn Hills which is currently under review for a GM branch expansion
- Readily accessible to the $250M Amazon distribution and delivery center (formerly Pontiac Silverdome) and the 1,000-acre Oakland Technology Park
- Readily accessible to all other broader Oakland County demand including DTE Energy Music Theater, Meadow Brook Amphitheater, and downtown Rochester
- Proximate to the expansive Detroit Defense Corridor accounting for nearly $25B in public and private defense related contracts in recent years and approximately $46B in annual goods productions
- Proximate to Detroit Metropolitan Airport (DTW) which saw an annual increase of over 19% in total passenger volume for 2022 and has an average Trailing-6 increase of 12% for 2023 monthly enplanements over the previous year
- Optimal time to capitalize on the counter-cyclical growth of the Detroit Metropolitan Area on the heels of expansive late cycle growth across the region and the continued renaissance of downtown Detroit
- Downtown Detroit anchored by nearly $3BB of private and public construction projects over the past four years and a recently revealed $2.5BB investment through a partnership of Henry Ford Health, the Pistons, and Michigan State University beginning in 2024