hotel/spa conversion opportunity · mgm springfield, an $800 million investment, is designed to...

8
Springfield, CT Area Hotel/Spa Conversion Opportunity For more information, please contact: Damla Yerdelenli Associate +1 212 812 5847 [email protected] Shawn McMahon Executive Vice President +1 860 702 2833 [email protected] Deborah van der Heyden Managing Director +1 212 812 5700 [email protected] 1760 Mapleton Avenue Suffield, Connecticut

Upload: others

Post on 15-Oct-2020

1 views

Category:

Documents


0 download

TRANSCRIPT

Page 1: Hotel/Spa Conversion Opportunity · MGM Springfield, an $800 million investment, is designed to ignite an urban revival. MGM and its professional partners worked painstakingly to

Springfield, CT Area

Hotel/Spa Conversion Opportunity

For more information, please contact:

Damla Yerdelenli

Associate

+1 212 812 5847

[email protected]

Shawn McMahon

Executive Vice President

+1 860 702 2833

[email protected]

Deborah van der Heyden

Managing Director

+1 212 812 5700

[email protected]

1760 Mapleton Avenue

Suffield, Connecticut

Page 2: Hotel/Spa Conversion Opportunity · MGM Springfield, an $800 million investment, is designed to ignite an urban revival. MGM and its professional partners worked painstakingly to

Property Details

Located on a pastoral and private 56 acre parcel with additional development potential,

the property’s existing main building features:

• 164 dormitory style residential units

• Meeting rooms

• Auditorium

• Weight room, gym, swimming pool and student lounge

• Former chapel and library have 20’+ ceilings - Convertible to function rooms

• Large kitchen facilities and dining room

• Office space and meeting rooms

A carriage house located on the property can be used as a residence or for other

purposes. There are sports recreation fields on the site and boat access to the

Connecticut River may be created along the property’s 900 feet of direct water frontage.

©2015 Jones Lang LaSalle. All rights reserved. All information contained herein is from sources deemed reliable; however, no representation or warranty is made to the accuracy thereof.

Page 3: Hotel/Spa Conversion Opportunity · MGM Springfield, an $800 million investment, is designed to ignite an urban revival. MGM and its professional partners worked painstakingly to

1760 Mapleton Avenue Suffield, CT

PRICE:

Upon Request

BUILDING SIZE:

131,797 SF

LOT SIZE:

56.10 AC

PROPERTY TYPE:

Special Use

New to Market – Property for Sale

Property Description

The subject property consists of 56.1 acres of land that is located on the easterly side of

Mapleton Avenue (Route 159). The subject property is located approximately .5 miles south of

the Massachusetts/Connecticut state line. The parcel is identified in the Town of Suffield

Assessor's Office on Map 53, as Parcel 3.

The subject property is irregular in shape and has approximately 1,556 linear feet of frontage

on the easterly side of Mapleton Avenue and is bordered at the rear by the Connecticut River

with about 900 feet of water frontage. The parcel has an average depth of approximately 1,900

feet from Route 159 easterly to the Connecticut River.

Location Description

The main building and improvements sit on approximately 12 acres of the 56 acre parcel.

There are two curb cuts on Mapleton Avenue which provide access to the property. Paved

driveways wind through the property. Asphalt paved parking lots illuminated by pole lights

are located in the front and rear of the main building with a total of approximately 325 spaces.

Concrete sidewalks line the front of the building.

The site is attractively landscaped with a rolling lawn in the front of the site, plantings and

flower beds, and large growth trees that provide a natural privacy barrier between Route 159

and the building improvements, which are not visible from the street. At the entrance to the

property, there is a monument sign.

Page 4: Hotel/Spa Conversion Opportunity · MGM Springfield, an $800 million investment, is designed to ignite an urban revival. MGM and its professional partners worked painstakingly to

Hotel/Spa Conversion Opportunity

1760 Mapleton Avenue

Suffield, Connecticut

The New MGM

Springfield Casino

Page 5: Hotel/Spa Conversion Opportunity · MGM Springfield, an $800 million investment, is designed to ignite an urban revival. MGM and its professional partners worked painstakingly to

Springfield Attractions

Holyoke Mall

Titanic

Museum

Springfield

Museum Complex Armory

Museum

MassMutual

Center

1760 Mapleton

Suffield, CT

City Stage

Symphony

Zoo in

Forest

Park

Cyr Arena

Naismith Memorial

Basketball Museum

City Stage

Symphony

.6.4 miles/12 minutes away

..07 miles/2

minutes away

Page 7: Hotel/Spa Conversion Opportunity · MGM Springfield, an $800 million investment, is designed to ignite an urban revival. MGM and its professional partners worked painstakingly to

Quick Statistics

Six Flags New England Annual Visitors (water & theme park) 1.5 million

Population within 50 Mile Radius from Park Location… 3.7 million

Current Lodging Available … Comfort Inn & Suites – West Springfield (75 rooms)

Regency Inn & Suites- West Springfield (48 rooms)

Clarion Hotel- West Springfield (259 rooms)

Springfield Marriott- Springfield (265 rooms)

La Quinta Inn & Suites- Springfield (182 rooms)

Holiday Inn Enfield- Springfield (174 rooms)

Baymont Inn & Suites- East Windsor (116 rooms)

D Hotel & Suites- Holyoke (62 rooms)

Hyatt House- Windsor (132 rooms)

MGM Springfield will create… 3,000 permanent direct jobs &

2,000 construction related jobs

Access to MGM Springfield … Development is designed to give visitors access from

I-91 almost directly into a parking garage some 200

feet from the highway

(3,600 proposed public parking spaces)

Number of hotel rooms proposed… 250 within 25 story building

Number of estimated market-rate apartments to be developed … 54

CityStage Theater Seats…

Symphony Hall Seats…

Combined average performances a year…

479

2,611

250

MassMutual Center- Home of the…

Arena seats and hosts…

Springfield Falcons

8,000 and 100 annual events

Six Flags New England

has 1.5 m visitors per year.

MGM Springfield

proposes 250 hotel

rooms and 3,600

parking spaces.

MassMutal Center

hosts 100 annual

events and seats

8,000!

Key Facts

Page 8: Hotel/Spa Conversion Opportunity · MGM Springfield, an $800 million investment, is designed to ignite an urban revival. MGM and its professional partners worked painstakingly to

The New MGM

Springfield Casino

The Project

MGM Springfield, an $800 million investment, is designed to ignite an urban revival.

MGM and its professional partners worked painstakingly to put together a design that

celebrates the history of Springfield while moving the Gateway City into a new era of

commerce and economic opportunity.

The integrated resort casino is designed to enhance the entire urban center of Springfield.

The mixed-use development project calls for a 25 story 250 room hotel with world-class

amenities including a spa, pool and roof deck; 125,000 square feet of gaming space with

3,000 slot machines, 75 gaming tables, a poker room and high limit VIP gambling area;

about 55,000 square feet of retail and restaurant space that will accommodate 15 shops

and restaurants; and a multi-level parking garage.

Plans also envision a high-energy dining, retail and entertainment district with an eight-

screen cinema, bowling alley and an outdoor stage.

MGM Springfield will bring 3,000 permanent jobs and 2,000 construction jobs to

Downtown Springfield. MGM has established a hiring goal of 35 percent of the

workforce from the City of Springfield and 90 percent from a combination of Springfield

and the region. Additionally, MGM Springfield has entered into surrounding community

agreements with neighboring communities providing for tens of millions of dollars and

has committed to spending approximately $50 million with regional vendors and

suppliers.