San Antonio hotel developer acquires third Marriott hotel

Douglas County

(See all three comps)

Property Location: SWC W. County Line Road & Erickson Blvd. (3090 W. County Line Road), Littleton

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Property Description: Vacant land, 116-room Marriott Residence Inn proposed

Land Size: 104,647 sf

Sales Price: $1.99M, or $19 per sf, or $17,138 per buildable room

Reception No.: 2016047342

Closing Date: 7/18

Grantor: LC West LLC, c/o Province Group, Mark J Kerslake, mgr., 949-553-4800

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Grantee: CIP 2014/PC RIL Hotel LLC, c/o Propel Companies, 210-446-3180

Comments: Scottie McIntyre is the acquisitions person for Propel Companies. The hotel will have 117 parking spaces, including five handicapped spaces. The building will contain 80,110 sf with 4 stories. The Marriott Residence Inn is scheduled for completion in July. See next sale, which happened 15 months earlier and adjoins this sale to the south.

 

Property Location: NWC C-470 & Erickson Blvd. (3056 W. County Line Road), Littleton

Property Description: Vacant land, 125-room Courtyard by Marriott is under construction and scheduled to open in September 2016

Land Size: 115,995 sf

Sales Price: $1.5M, or $12.93 per sf, or $12,000 per buildable room

Reception No.: 2015024281

Closing Date: 4/15/15

Grantor: LC West LLC, c/o Province Group, Mark J Kerslake, mgr., 949-553-4800

Grantee: Propel Companies, Scottie McIntyre, 210-446-3180

Comments: Scottie McIntyre is the new acquisitions person for Propel Companies, replacing Brent Adcock. This new 125-room hotel with 65,841 sf located at 3056 W. County Line Road will be completed in September.

 

Property Location: SE/S Cabela Drive, 341’ southwest of Ridgegate, Lone Tree

Property Description: Vacant land

Land Size: 3.31 acres

Sales Price: $2.49M, or $17.25 per sf, or $20,561 per buildable room

Reception No: 2016004856

Closing Date: 1/26

Grantor: Ridgegate Investments Inc., Keith D. Simon, 720-279-2581

Grantee: Park Meadows TPP LLC, *Brent Adcock, 210-446-3180, San Antonio TX

Comments: See Lot 3, RidgeGate Filing No. 18. Use restriction calls for the construction of a Marriott TownePlace Suites extended-stay hotel. Hans Lindberg is president of the Propel Companies. The 121-room Marriott TownePlace Suites contains 72,562 sf hotel is expected to open mid-July 2017. The 4-story building footprint contains 18,860 sf with 138 parking spaces provided. *No longer with the company and replaced by Scottie McIntyre.

Comp of the Day is provided by John V. Winslow, president of Winslow Property Consultants. Winslow has more than 40 years’ experience in commercial real estate. He can be reached at 720-612-7878 or Colprop2012@gmail.com.