Embassy Suites Syracuse Destiny USA_Property for Sale
Embassy Suites Syracuse Destiny USA_Property for Sale
311 Hiawatha Blvd W, Syracuse, NY, 13204, US

Embassy Suites Syracuse Destiny USA

Asset description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer, on an exclusive basis, the fee simple interest in the 209-room Embassy Suites by Hilton Destiny USA (“Hotel” or “Property”). The full-service Hotel offers a relaxed and upscale environment that offers guests two-room suites, free cooked-to-order breakfast, and a complimentary evening reception featuring drinks and light bites every night. The Hotel offers a wide array of amenities including but not limited to 9,360 SF flexible event/meeting space, free parking, a business and fitness center, an indoor pool, a restaurant and café, and a free shuttle service. The Hotel was built in 2017 and is the top-performing hotel in the Syracuse market.


The Hotel is ideally located adjacent to Destiny USA, the ninth-largest shopping center in America, which attracts over 15.9 million visitors every year. Additionally, the Hotel is two miles north of Downtown Syracuse, at the confluence of Interstate 81 and Interstate 690, giving it seamless access to the area's outer loop with direct access to Syracuse’s urban core. Furthermore, the Property is only two miles from the I-81 and I-90 interchange. Interstate 90, otherwise known as the New York State Thruway, runs across New York state and runs directly through Albany, Syracuse, and Buffalo. Greater Syracuse is also well served by Syracuse Hancock International Airport (SYR), which is conveniently located four miles from the Hotel.


Embassy Suites by Hilton Destiny USA offers investors the opportunity to acquire an upper upscale Hilton-branded hotel with strong in-place cash flow that benefits from a strategic location in the diverse Syracuse lodging market. Syracuse is comprised of a wide array of demand drivers such as education, healthcare, leisure, manufacturing, and technology. The Hotel is also positioned well for future growth with the announcement of Micron’s $100 billion computer chip manufacturing complex, which is estimated to create 50,000 jobs in the Syracuse Metropolitan Area. The Hotel is being offered unencumbered by management and at a significant discount to replacement cost in the high-barrier Northeast market. 

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Attributes

Units
209 units
Year built
2017

Media

Investment highlights

  • Strategic Syracuse Location
  • Unmatched Location Adjacent to Destiny USA
  • Access to Diverse Demand Drivers
  • Recently-Built, All-Suite, Full-Service Hotel
  • Leading Embassy Suites by Hilton Brand Affiliation
  • Strong In-Place Cash Flows 
  • Operational Upside
  • Assumable Tax Abatement (PILOT Program)
  • Subdivision Plan Approved by City of Syracuse
  • Discount to Replacement Cost, Attractive Basis in High-Barrier Market
  • Diminishing Supply
  • Unencumbered by Management
Embassy Suites Syracuse Destiny USA 4_Property for Sale
Embassy Suites Syracuse Destiny USA 4_Property for Sale

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Embassy Suites Syracuse Destiny USA (0 Properties)

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Last updated
Apr 24, 2024