applebee’s restaurant conference center 122 rooms · available for events to be held in this...
TRANSCRIPT
OFFERING MEMORANDUM
Hotel Applebee’s Restaurant Conference Center 122 Rooms
TABLE OF CONTENTS
EXECUTIVE SUMMARY 3
PROPERTY OVERVIEW 7
FLOOR PLANS 9
FINANCIAL PERFORMANCE 11
ADDITIONAL PHOTOS 13
EXCLUSIVE INVESTMENT ADVISORS
Jennifer D. Stein
JDS Real Estate Services, Inc.
1231 Puerta Del Sol, Suite 100
San Clemente, CA 92673
Phone: (213) 446-5366
Email: [email protected]
JDS Real Estate Services, Inc.
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DISCLAIMERBEST WESTERN PLUS YORK HOTEL & CONFERENCE CENTER | 122 ROOMS | YORK, NE
The material contained in this Offering Memorandum is furnished solely for the purpose of considering the purchase of the property within and is not to be used for any other
purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent of the JDS Real Estate Services, Inc.
or Property Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property.
The only party authorized to represent the Owner in connection with the sale of the Property is JDS Real Estate Services, Inc. and associates, and no other person is authorized
by the Owner to provide any information or to make any representations other than contained in this Offering Memorandum.
Neither the JDS Real Estate Services, Inc. and Associates nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the
information contained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future representation of the Property. This Offering
Memorandum may include certain statements and estimates with respect to the Property. These Assumptions may or may not be proven to be correct, and there can be no
assurance that such estimates will be achieved. Further, the JDS Real Estate Services, Inc. and Associates and the Owner disclaim any and all liability for representations or
warranties, expressed or implied, contained in or omitted from this Offering Memorandum, or any other written or oral communication transmitted or made available to the
recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fully executed and delivered Real Estate
Purchase Agreement between it and Owner.
The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or the JDS Real Estate Services, Inc. and
Associates nor any of their officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this Offering
Memorandum are advised and encouraged to conduct their own comprehensive review and analysis of the Property.
This Offering Memorandum is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, to reject any or all
expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any time with
or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Offering Memorandum or making an offer to purchase the Property unless
and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms acceptable to Owner, in Owner's sole discretion. By submitting an offer, a
prospective purchaser will be deemed to have acknowledged the foregoing and agreed to release the Owner and the JDS Real Estate Services, Inc. and Associates from any
liability with respect thereto.
To the extent Owner or any Agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any such correspondence or statements
as binding. Only a fully executed Real Estate Purchase Agreement.
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
JDS Real Estate Services, Inc.
Best Western Plus York Hotel & Conference Center | YORK, NEBRASKA
EXECUTIVE
SUMMARY
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Best Western Plus York Hotel & Conference Center | YORK, NEBRASKA
4Executive Summary
PROPERTY SUMMARY
Asking Price $6,800,000
Address 4619 S Lincoln Ave, York, NE 68467
Year Built / Last
Renovated
1989 / 2013
APN 930103114
Zoning C3- Commercial Highway
Stories 2
Site 420,790 sf (9.66 acres)
Building Area 147,004 sf
Guest Room Inventory 122
Guest Rooms 118
Guest Suites 4
Total Meeting and Event
Space
Event Room #1- 3300 Sq. Ft. With
ability to separate into 3 rooms.
Board Room- Approx. 400 Sq. Ft.
Food and Beverage Applebee’s Bar & Restaurant,
Complimentary Full Breakfast
Other Amenities Heated indoor swimming pool, Jacuzzi in
Suites, Laundry, business center, fitness
center, and banquet & conference
facilities.
Best Western Plus York Hotel & Conference Center | YORK, NEBRASKA
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Brand & Amenity Highlights
Brand Overview
Best Western Plus® goes beyond the expected, offering everything from well-appointed
guest rooms to upgraded amenities. Connecting you to Best Western Rewards®, our
award-winning loyalty program, we are committed to delivering the highest degree of
hospitality and unmatched value — around the block and around the world.
Everything you need for work and play, Best Western Plus delivers the comfort and
convenience you have come to expect from Best Western® Hotels & Resorts. Our spacious
guest rooms offer plush bedding and stylish bath amenities. The in-room desk and hotel
business center provide the right tools for a productive stay.
Main Brand Amenities
• Complimentary breakfast
• Free Wi-Fi
• In-room mini-refrigerator
• In-room work desk
• In-room coffee and tea maker
• Stylish bath amenities
• Fitness center
• Business center
• On-site guest laundry
Property Location
Patrons are connected to the convention center and within a 5-minute drive of Wessels
Living History Farm and York Country Club. This hotel is 3.6 mi (5.7 km) from Harrison Park
and 3.7 mi (5.9 km) from York Community Center and Anna Palmer Museum.
Rooms
122 air-conditioned rooms featuring refrigerators and microwaves. Complimentary wireless
Internet access keeps you connected, and cable programming provides entertainment.
Private bathrooms with shower/tub combinations feature complimentary toiletries and hair
dryers.
Amenities
Recreational amenities including an indoor pool and a 24-hour fitness center. Additional
features at this hotel include complimentary wireless Internet access, wedding services,
and a fireplace in the lobby.
Dining
Patrons may enjoy a meal at the restaurant or snacks in the coffee shop/café, or enjoy
room service (during limited hours). Wrapping up their day with a drink at the bar/lounge
and waking up to a complimentary full breakfast is served daily from 6 AM to 9:30 AM.
Business, Other Amenities
Featured amenities include complimentary wired Internet access, a 24-hour business
center, and complimentary newspapers in the lobby. Free self parking is available onsite.
Best Western Plus York Hotel & Conference Center | YORK, NEBRASKA
The City of York is located at the "Crossroads of the
Midwest," at the intersection of Interstate 80 and the
"Pan American Highway" designated locally as US
Highway 81).
Located in the midst of the most productive and fertile
farmland in America, York is the hub of economic
activity for the area. With a thriving downtown retail
area, York also has an active commercial sector
located near the intersection of the two major
roadways. Industrial companies located in York
include an ethanol plant, aerospace component
manufacturer and companies that trade both
nationally and internationally.
York, a city of over 8,000 population, offers all of the
character of a small town with the advantages of a
more populated city. Strategically located at the
intersection of Highway 81, a major north-south 4-lane
expressway that stretches from South America to
Canada, and Interstate 80 that traverses the Atlantic
to the Pacific.
York is the heart of the nation.
Social MediaYork provides numerous amenities found
only in larger more metropolitan cities, cutting edge
health care
technologies and facilities, a vibrant hospitality
industry ready to serve the needs of visitors and
residents alike, progressive educational institutions
including a four-year college and a full range of
support services for families and businesses.
ContactYork's transportation arterials and location
allow easy access to Lincoln, the home of state
government, the University of Nebraska, and the Lied
Center for Performing Arts. Connected can also be
used to describe the telecommunications
infrastructure York citizens enjoy. You can do
business with anyone, anywhere, from York,
Nebraska.
An excellent workforce, quality of life, and low cost of
living combine to make York one of the most attractive
locations to live or work in the United States.
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Location Overview- York, Nebraska
Best Western Plus York Hotel & Conference Center | YORK, NEBRASKA
PROPERTY
OVERVIEW
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Best Western Plus York Hotel & Conference Center | YORK, NEBRASKA
Property OverviewThe hotel was built in 1989 and just recently completed the “Design Excellence Property
Improvement Plan” on February 27, 2017 The property consists of a 2-story building with
a single story grand entry and surface parking. The first floor features the Lobby,
Business Center, Applebee’s Restaurant, Conference Center, Executive Board Room,
and guest rooms, while floor two includes the Fitness Center and additional guest
rooms.
RestaurantThe property includes a full Applebee’s Restaurant, which features a full bar, and is
located in the main lobby area. This allows for On-site catering, food and beverages
available daily from 11AM-12AM, 7 days a week.
Conference Center & Board RoomThe conference center is comprised of a total of 3300 sf that can be separated into 3
banquet areas @ 1300 sf each. Tables, chairs, and presentation materials are all
available for events to be held in this area. Perfect for large conventions and events that
require a full day of activities that can be serviced through Applebee's catering service.
Guest RoomsThe property’s 122 guest rooms include traditional Double queen and King bed rooms. A
total of 4 suites with jacuzzi tub, 2 with Deluxe King and sofa-bed. 2 suites include
oversized bathroom and additional amenities. Standard rooms average 310 sq. ft. and
include complimentary wireless Internet access, a coffee/tea maker, microwave, mini
refrigerator, desk/work area, and flat-screen televisions.
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ROOM MIX
Type Rooms
King 55
K Suite 4
Double Q 63
Total Rooms 122
AMENITIES
Heated Pool
Applebee’s Bar & Restaurant
Fitness Center
Business Center
Conference Center
Guest Room Workspaces
Best Western Plus York Hotel & Conference Center | YORK, NEBRASKA
Floor Plans- Level 1
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Best Western Plus York Hotel & Conference Center | YORK, NEBRASKA
Floor Plans- Level 2
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Best Western Plus York Hotel & Conference Center | YORK, NEBRASKA
FINANCIAL
PERFORMANCE
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Best Western Plus York Hotel & Conference Center | YORK, NEBRASKA
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2019 Jan - Apr P&L and Proforma Assumptions
Confidentiality & DisclaimerAll materials and information received or derived from JDS Real Estate Services, Inc. andAssociates, its directors, officers, agents, advisors, affiliates and/or any third party sources areprovided without representation or warranty as to completeness , veracity, or accuracy,condition of the property, compliance or lack of compliance with applicable governmentalrequirements, developability or suitability, financial performance of the property, projectedfinancial performance of the property for any party’s intended use or any and all othermatters.
Neither JDS Real Estate Services, Inc. and Associates, its directors, officers, agents, advisors, oraffiliates makes any representation or warranty, express or implied, as to accuracy orcompleteness of the materials or information provided, derived, or received. Materials andinformation from any source, whether written or verbal, that may be furnished for review arenot a substitute for a party’s active conduct of its own due diligence to determine these andother matters of significance to such party. JDS Real Estate Services, Inc. and Associates willnot investigate or verify any such matters or conduct due diligence for a party unlessotherwise agreed in writing.
EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.
Any party contemplating or under contract or in escrow for a transaction is urged to verify allinformation and to conduct their own inspections and investigations including throughappropriate third party independent professionals selected by such party. All financial datashould be verified by the party including by obtaining and reading applicable documents andreports and consulting appropriate independent professionals. JDS Real Estate Services, Inc.and Associates makes no warranties and/or representations regarding the veracity,completeness, or relevance of any financial data or assumptions. JDS Real Estate Services, Inc.and Associates does not serve as a financial advisor to any party regarding any proposedtransaction.
All data and assumptions regarding financial performance, including that used for financialmodeling purposes, may differ from actual data or performance. Any estimates of marketrents and/or projected rents that may be provided to a party do not necessarily mean thatrents can be established at or increased to that level. Parties must evaluate any applicablecontractual and governmental limitations as well as market conditions, vacancy factors andother issues in order to determine rents from or for the property. Legal questions should bediscussed by the party with an attorney. Tax questions should be discussed by the party with acertified public accountant or tax attorney. Title questions should be discussed by the partywith a title officer or attorney. Questions regarding the condition of the property and whetherthe property complies with applicable governmental requirements should be discussed by theparty with appropriate engineers, architects, contractors, other consultants and governmentalagencies. All properties and services are marketed by JDS Real Estate Services, Inc. andAssociates in compliance with all applicable fair housing and equal opportunity laws.
Proforma was constructed using a 3x multiple of the first quarter financials and
created to show what may be expected. It should NOT be used as an absolute
expectation.
Best Western Plus York Hotel & Conference Center | YORK, NEBRASKA
13
Additional Photos
Best Western Plus York Hotel & Conference Center | YORK, NEBRASKA
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Additional Photos
Best Western Plus York Hotel & Conference Center | YORK, NEBRASKA
Best Western Plus York Hotel & Conference Center | YORK, NEBRASKA
INVESTMENT CONTACTS
Jennifer D. Stein
JDS Real Estate Services, Inc.
1231 Puerta Del Sol, Suite 100
San Clemente, CA 92673
Phone: (213) 446-5366
Email: [email protected]
JDS Real Estate Services, Inc.
Best Western Plus York Hotel & Conference Center | YORK, NEBRASKA