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95-Key Hotel Opportunity Near Corpus Christi | Fee Simple

Portland, TX

Bull Realty is pleased to offer the opportunity to acquire a fee-simple interest in the newly built, 95-key Avid Hotel near Corpus Christi, TX. The property is located off US-181 near a diverse set of demand generators, including Kiewit Offshore Services, Valero Bill Greehey Oil Refinery, North Beach, Texas State Aquarium and the USS Lexington. This property has been slow to ramp up to the levels of its competitive set and presents new ownership with an excellent value-add opportunity to close this gap. With over $50B in new business investment between 2009 and 2019, the area is extremely business friendly and is well positioned to both attract new business and retain existing businesses. The area’s focus on environmental sustainability will allow the region to remain a strong target for leisure travelers for generations to come. Together these create a strong, stable long term hotel demand base. Coupled with the hotel’s underperformance relative to its competitive set, there is both the opportunity for short term and long term RevPAR growth. Excluding the subject property, four midscale and above hotels have been built in Portland since 2017, with an average trailing 12 month RevPAR of $78 as of November 2022 The property is in a strategic location near many of the area’s businesses and attractions. Many attractions such as Hurricane Alley Water Park, Texas State Aquarium, USS Lexington and Navel Air Station, provide significant demand for rooms less than 15 miles from the property. Corpus Christi is located roughly 11 miles from the Avid, making the hotel an attractive option for travelers. Numerous city and business expansion projects will help fuel hotel demand growth. Cheneire’s CCL expansion and the Harbor Bridge Project are two examples of development that, as completed, would provide stable growth for the region’s economy. The new bridge will be the tallest point in South Texas and the longest cable-stayed bridge in the U.S. Nearby businesses in the medical industry include Christus Spohn Hospital, which is soon to begin renovation and expansion, and Driscoll Children’s Hospital, both of which generate room nights for the Avid. Another demand generator, Texas A&M - Corpus Christi is a public research university hosting over 10,000 students and nearly 700 academic staff on it’s 396-acre campus. Lastly, industrial manufacturing comprises a significant portion of the local economy with companies like Chemours, Cheneire, and Gulf Coast Growth Ventures all located near the property generating hundreds of room nights. IHG’s Brand Affiliation provides one of the strongest travel loyalty programs, Priority Club.

$9,100,000

37,211 SF

  • Limited Service

Email Tom French or Jonathan Hayne for more information
± 2.38 Acre Hotel Development Site | Tifton, GA

Tifton, GA

Bull Realty is pleased to offer the opportunity to acquire this shovel ready ± 2.38-acre hotel site located within Tifton North, a new ± 60,360 SF lifestyle center. The property lies adjacent to I-75 with over 200’ of frontage in a mature hotel market with strong upper midscale RevPAR. Combined with the extended-stay upside potential, this site a great hotel development opportunity. The site is part of the mixed-use lifestyle center Tifton North, containing Striplings General Store, Ace Hardware, Shell Station and Chicken Salad Chick with a Just Love Coffee Café in development. The lifestyle center will include a main street, dog park, and more with a common green at the center seamlessly integrated and thoughtfully designed to complement the surroundings, allowing community and connections to happen naturally. The site is within a half mile of major demand drivers, including UGA Tifton Conference Center and the Southwell Hospital System accessible via I-75. Per the 2028 Comprehensive Plan of the City of Tifton, areas near the educational institutions and hospital system are in the direction of economic growth. The city looks to utilize “ag-businesses, educational institutions, and the health care sector as a basis to attract other, related clean industry.” *Parcel subdivision contingent upon final sale of tract.

$2,000,000

2.38 Acres

  • Office
  • Economy

Email Tom French or Jonathan Hayne for more information
± 1.02 Acre Quick Service Restaurant Development Site | Tifton, GA

Tifton, GA

Bull Realty is pleased to offer the opportunity to acquire this pad ready ± 1.02-acre development site located within Tifton North, a new 60,360 SF lifestyle center. With over 300 feet of frontage, the property lies adjacent to I-75 where traffic counts exceed 56,800 VPD. Additionally, this property has over 200 feet of frontage adjacent to US Hwy 41 where traffic counts exceed 8,600 VPD. Currently zoned PDO, allowing for the development of restaurants, retail, hotel and office. Located in the affluent, northern sector of Tifton, this development site lies in close proximity to an abundance of major retailers. The site is part of the mixed-use lifestyle center Tifton North, containing a Striplings General Store, Ace Hardware, Shell Station and Chicken Salad Chick with a Just Love Coffee Café in development. The population within a one-mile radius is 3,552 with an average household income of $75,629. The site is located in the path of economic growth according to Tifton’s 2028 Comprehensive Plan, as the city looks to expand north by utilizing the “ag-businesses, the educational institutions and the health care sector as a basis to attract other, related clean industry.” The high income demographics of the surrounding area along with great highway visibility make this an ideal QSR development opportunity in a growing submarket of Tifton. *Parcel subdivision contingent upon final sale of tract.

$926,000

1.02 Acres

  • Restaurant
  • Retail

Email Tom French or Jonathan Hayne for more information