CBRE Hotels is soliciting offers to acquire the fee-simple interest in the Holiday Inn Express & Suites in Texas City, a suburb of Houston, Texas that allows easy access to both Downtown Houston and Galveston Island. Thanks to its ideal location, the 70-room hotel receives business from a diverse population of both business and leisure segments.
- Formula Blue PIP Completed - Minimal PIP expected for new owner, ask broker for details.
- Two Additional Rooms - Seller converted an owners apartment into two additional rooms, but has not put them into inventory yet. This is an opportunity for immediate upside for the new owner.
- Excellent Location - The hotel is located directly off Interstate Freeway 45, the main freeway connecting Downtown Houston and Galveston that serves more than 100,000 cars per day. In addition, the property is in proximity to multiple major hotel demand generators, including businesses, colleges, medical centers, parks, museums, retail and entertainment. Specifically, the hotel is only 15-minute drive to many major industrial companies in the area, including Valero, Marathon and Dow Chemical Company. Other local attractions such as Kemah Boardwalk, Bayou Wildlife Park, Port of Texas City, Galveston Island, and the Johnson Space Center are also located near the hotel.
- Increasing Demand - The area is home to the recently developed 12-acre Lago Mar, the largest crystal-clear lagoon in Texas and a unique staycation destination. The attraction offers an array of live entertainment, retail shops, water sports, festivals, and dining option. It is projected to generate over 400,000 visitors annually to the area. Additionally, 1,500 of the 4,000 projected homes have been built in the Lago Mar community since 2016.
- 756-Home Community Planned - Chesmar Homes plans to build 756 single-family homes, priced from the $300,000s to the high $500,000s, in Texas City. Construction is targeted to begin this fall.
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