confidential offering memorandum · clarion concord demographics market profile 1050 burnett ave,...

HOTEL INVESTMENT OPPORTUNITY CLARION OF CONCORD

CONFIDENTIAL OFFERING MEMORANDUM

Offered exclusively by Victor Singh | Olingers Real Estate Investments, Inc.

Olingers Real Estate Investments, Inc.

Jagdeep Victor Singh | Office (408) 942-8070

Cell (408) 394-9054 | [email protected]

89 S Main Street, Milpitas, CA 95035

EXECUTIVE SUMMARY

• This offering represents an outstanding opportunity to acquire a full-service, Bay Area hotel in the vibrant city of Concord lodging market.

• Highly Visible Highway Location The property is located just off of Hwy 680, one of the busiest highways in the Bay Area. It is a well- established and strategic location, 40 miles east of the Oakland International Airport. It benefits from excellent visibility and accessibility.

• Excellent Opportunity to Acquire a Hotel on a Large 3.6 Acre Lot The hotel is a 198-room, full-service hotel, sitting on over 3.6 acres of land. There are 60 interior corridor rooms in Tower with 2 elevators and 138 rooms with exterior corridors with 2 elevators outside. The hotel has over 5,000 square feet of flexible meeting/ banquet space that can be divisible into 6 small banquet/party halls. A separate 950 SF small meeting room for corporate meetings and a 350 SF boardroom for staff meetings.

• There is a separate kitchen for the banquet parties. There is a full-service 150 seating capacity restaurant, a bar and lounge. The hotel also has a 950 SF fitness center, and a gift shop.

• The buildings are situated around an attractive, landscaped courtyard with a large outdoor swimming pool and sun deck. The hotel has ample free parking for guests on a paved surface lot which surrounds the property.

• Exceptional Offer Terms & Price The price for the hotel is $28 million, or $141,414 per key, fee simple and unencumbered by management. Owners are asking 5 times room revenues.


Jagdeep Victor Singh | Office (408) 942-8070

Cell (408) 394-9054 | [email protected]


PROPERTY DESCRIPTION

A new owner has a rare opportunity to acquire this hotel that is under-performing due to management issues. The current owners reside outside of the country and the hotel is not performing at it’s optimum levels. New owner can implement new management initiatives and take advantage of its future economic growth.

Name: Clarion Concord

Address: 1050 Burnette Ave, Concord, CA 94520

APN: 126-325-002-7

County: Contra Costa County

Use Code: Hotel/Motel

Interest: Fee Simple

Rooms: 198

Year Built: 1968

Year Remodeled: 2017-2018

Building Area: 18,877 SF

Lot Size: 3.62 Acres

Property DescriptionThe subject Hotel is located in the city of Concord. The property is located just off of Hwy 680. The hotel benefits from excellent visibility and accessibility from Hwy 680. It is a key north - south freeway, linking Bay Area and the Oakland Airport with Sacramento.

CLARION CONCORD

CONCORD CLARION HOTEL

Clarion Concord Hotel and Conference Center is conveniently located in the East Bay near the San Francisco Bay and some of the best wineries in Napa Valley. Surrounded by numerous local sites, activities and attractions to explore. The hotel is located within minutes from two BART Stations which can take you to San Francisco, SFO Airport, Oakland, Berkeley, OAK Airport.

Hotel Amenities and Services • Free Parking on Premises • Free Wireless High Speed Internet • Free Breakfast w/ Overnight Stay• Fee Newspaper Monday - Friday • Outdoor Heated Pool • Fitness Center • Gift Shop• Valet Cleaning Service• Business Centers• Guest Laundry • 100% Smoke Free Hotel • Government Travelers: FEMA Approved

Food & Beverages: The hotel is equipped with a typical commercial kitchen, including prep areas, cold and dry storage, and dish washing equipment. In addition to serving the restaurant and lounge, there is a separate kitchen that serves all banquet and catering at the hotel. The size and configuration of this facility is more than adequate to meet all of the food and beverage needs at the hotel.

Swimming Pool: The hotel offers a large outdoor swimming pool, with a deck and sunbathing area in the center courtyard.

Improvements: Over the past three years, the property has received over $2 million in owner improvements.

CLARION CONCORD

CONCORD CLARION HOTEL

Room ConfigurationThe property includes 3 buildings. One 6 story tower with 60 interior corridor guest rooms which has 2 elevators. The other 2 buildings have 138 guest rooms in an exterior 4 story corridor with 2 elevators.

Typical king and double rooms are furnished with the following items: • King or two double beds with a wall-mounted

headboard(s) • Night stand(s) with lamps and a digital clock

radio • Six-drawer dresser and large wall mirror • Work desk, desk lamp, and chair • Digital phones with data ports and voicemail • 25” color TV • Automatic coffee maker • An open closet with a wall-mounted iron/

ironing board set • Wall-to-wall carpeting, vinyl wallpaper and

attractive framed prints • Individually-controlled through-the-wall HVAC

units • Electronic card-key lock and a deadbolt

safety lock • Guest bathrooms with modern features that

include a hair dryer, a one- piece vanity and sink, mirror and vinyl wall coverings, tile floors, and standard-size tub and shower units.

CLARION CONCORD

SITE PHOTOS

CLARION CONCORD

SITE PLAN

CLARION CONCORD

FIRST FLOOR LAYOUT

CONCORD CLARION HOTEL l WHITEPAPER

The Clarion Hotel 1050 Burnett Ave For more information: [email protected] Hotel Whitepaper Concord CA 94520 concordclarion.com 925 566 8820

CLARION CONCORD

INTERSECTION AERIAL

CLARION CONCORD

TRADE AREA AERIAL

CLARION CONCORD

TENANT PROFILE

WHY CLARION?No matter what the occasion—business travel and meetings, special events and celebrations, vacations or a weekend getaway—there are so many reasons to connect in person with your friends, family and colleagues.That’s why our hotels with meeting space have the convenient and affordable accommodations that make all of your business and social gatherings possible. We offer room for events, along with catering, food and beverage, providing all the essentials you’re looking for when you get together.

CLARION IS A SUBSIDIARY OF CHOICE HOTELS INTERNATIONAL

ABOUT CHOICE HOTELSCONNECT THE WORLD THROUGH THE POWER OF HOSPITALITYWE BRING TOGETHER THE PEOPLE BRAND AND TECHNOLOGY THAT ENABLE THE SUCCESS OF OTHERS-WELCOMING EVERY GUEST, EVERY PARTNER, EVERYWHERE THEIR JOURNEY TAKES THEM.CHOICE HOTELS INTERNATIONALChoice Hotels International (NYSE: CHH) is one of the largest and most successful lodging companies in the world. Choice currently franchises more than 6,800 hotels, representing more than 500,000 rooms, in more than 35 countries and territories. Ranging from limited service to full service hotels in the economy, mid-scale and upscale segments, Choice-branded properties provide business and leisure travelers with a range of high-quality, high-value lodging options throughout the United States and internationally. For more information on Choice Hotels, visit the company’s Website www.choicehotels.com.

A HISTORY OF INNOVATIONThe nation’s first hotel chain traces its roots back to 1939. From a small chain of roadside hotels to one of the world's largest hotel franchisors, today our company is built on a proud history of industry firsts and innovations.

OUR BRANDSExplore the brands of Choice Hotels. With more than 6,800 hotels open in more than 40 countries and territories, we offer travelers a wide range of lodging options.

CLARION CONCORD

DEMOGRAPHICSMarket Profile1050 Burnett Ave, Concord, California, 94520 Prepared by EsriRings: 1, 3, 5 mile radii Latitude: 37.97603

Longitude: -122.06100

1 mile 3 miles 5 milesPopulation Summary

2000 Total Population 7,541 123,544 231,5312010 Total Population 7,903 125,918 232,6952018 Total Population 8,344 133,600 248,791

2018 Group Quarters 85 1,606 3,1532023 Total Population 8,631 139,072 259,357

2018-2023 Annual Rate 0.68% 0.81% 0.84%2018 Total Daytime Population 26,909 140,607 263,888

Workers 22,825 73,557 141,717Residents 4,084 67,050 122,171

Household Summary2000 Households 3,324 47,354 90,976

2000 Average Household Size 2.26 2.58 2.512010 Households 3,286 47,514 91,116



2023 Average Household Size 2.43 2.66 2.552018-2023 Annual Rate 0.60% 0.74% 0.79%

2010 Families 1,695 30,123 58,1882010 Average Family Size 2.99 3.17 3.07


2023 Families 1,814 32,656 63,6942023 Average Family Size 3.09 3.26 3.152018-2023 Annual Rate 0.59% 0.71% 0.74%

Housing Unit Summary2000 Housing Units 3,424 48,537 93,157

Owner Occupied Housing Units 51.1% 59.5% 62.7%Renter Occupied Housing Units 46.0% 38.1% 35.0%Vacant Housing Units 2.9% 2.4% 2.3%

2010 Housing Units 3,484 50,499 96,545Owner Occupied Housing Units 47.1% 55.4% 58.8%Renter Occupied Housing Units 47.2% 38.7% 35.6%Vacant Housing Units 5.7% 5.9% 5.6%



Median Household Income2018 $64,917 $76,101 $85,6352023 $76,065 $88,650 $101,103

Median Home Value2018 $446,779 $514,231 $576,1972023 $502,911 $571,749 $627,081

Per Capita Income2018 $36,800 $38,584 $45,4922023 $43,705 $45,495 $53,542

Median Age2010 34.9 37.3 39.62018 35.4 38.8 40.92023 35.1 39.6 41.5

Data Note: Household population includes persons not residing in group quarters. Average Household Size is the household population divided by total households. Persons in families include the householder and persons related to the householder by birth, marriage, or adoption. Per Capita Income represents the income received by all persons aged 15 years and over divided by the total population.Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2018 and 2023 Esri converted Census 2000 data into 2010 geography.

April 17, 2019

©2019 Esri Page 1 of 7

Market Profile1050 Burnett Ave, Concord, California, 94520 Prepared by EsriRings: 1, 3, 5 mile radii Latitude: 37.97603


1 mile 3 miles 5 milesPopulation Summary

2000 Total Population 7,541 123,544 231,5312010 Total Population 7,903 125,918 232,6952018 Total Population 8,344 133,600 248,791

2018 Group Quarters 85 1,606 3,1532023 Total Population 8,631 139,072 259,357

2018-2023 Annual Rate 0.68% 0.81% 0.84%2018 Total Daytime Population 26,909 140,607 263,888

Workers 22,825 73,557 141,717Residents 4,084 67,050 122,171

Household Summary2000 Households 3,324 47,354 90,976




2023 Average Household Size 2.43 2.66 2.552018-2023 Annual Rate 0.60% 0.74% 0.79%



2023 Families 1,814 32,656 63,6942023 Average Family Size 3.09 3.26 3.152018-2023 Annual Rate 0.59% 0.71% 0.74%

Housing Unit Summary2000 Housing Units 3,424 48,537 93,157

Owner Occupied Housing Units 51.1% 59.5% 62.7%Renter Occupied Housing Units 46.0% 38.1% 35.0%Vacant Housing Units 2.9% 2.4% 2.3%




Median Household Income2018 $64,917 $76,101 $85,6352023 $76,065 $88,650 $101,103

Median Home Value2018 $446,779 $514,231 $576,1972023 $502,911 $571,749 $627,081

Per Capita Income2018 $36,800 $38,584 $45,4922023 $43,705 $45,495 $53,542

Median Age2010 34.9 37.3 39.62018 35.4 38.8 40.92023 35.1 39.6 41.5

Data Note: Household population includes persons not residing in group quarters. Average Household Size is the household population divided by total households. Persons in families include the householder and persons related to the householder by birth, marriage, or adoption. Per Capita Income represents the income received by all persons aged 15 years and over divided by the total population.Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2018 and 2023 Esri converted Census 2000 data into 2010 geography.

April 17, 2019


Site Map1050 Burnett Ave, Concord, California, 94520 Prepared by EsriRings: 1, 3, 5 mile radii Latitude: 37.97603


April 17, 2019


HOTEL INVESTMENT OPPORTUNITY CLARION OF CONCORD

Offered exclusively by:


Jagdeep Victor Singh | Office (408) 942-8070Cell (408) 394-9054 | [email protected]


confidential offering memorandum · clarion concord demographics market profile 1050 burnett ave,...

Documents