CBRE Auctions | Online - CBRE Marketplace
CBRE Auctions | Online - CBRE Marketplace
CBRE Auctions | Online - CBRE Marketplace
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<strong>CBRE</strong> <strong>Auctions</strong> | <strong>Online</strong><br />
Capital Markets | Auction Services<br />
ONLINE AUCTION DATE :: MAY 8<br />
HOWARD JOHNSON<br />
3027 W HIGHWAY 76 | BRANSON, MO<br />
:: MINIMUM BID<br />
To Be Sold To The Highest Bidder<br />
At or Above $1,000,000<br />
:: BROCHURE
HOWARD JOHNSON | BRANSON, MO<br />
THE OFFERING<br />
On Wednesday May 8, 2013 Auction Services is pleased to present for online auction the Howard Johnson located<br />
at 3027 W Highway 76 in Branson, Missouri. The property is being sold unencumbered by brand and management.<br />
The Hotel includes ±344 rooms, business center, outdoor pool area, and meeting space.<br />
The Howard Johnson enjoys an excellent location near several major demand generators including Titanic-Worlds<br />
Largest Museum Attraction and Ripley’s Believe It or Not Odditorium. The Hotel is also located less than four miles<br />
from downtown Branson and seven miles from the M. Graham Clark-Taney County Airport.<br />
INVESTMENT HIGHLIGHTS<br />
• Repositioning Opportunity - This investment • Unencumbered by Management and Brand<br />
represents an excellent opportunity to acquire the Affiliation - The Howard Johnson is available<br />
Howard Johnson and enhance the asset’s profitability unencumbered by management or brand allowing<br />
through repositioning. The asset is available to an owner/operator to benefit from management fees<br />
rebrand or convert to an independent lodging facility as well as potential operating efficiencies gained<br />
while also benefiting from the stable Branson lodging from local or regional synergies.<br />
market.<br />
• Discount to Replacement Cost - The property is<br />
• Dynamic Market - Branson enjoys a mature lodging being offered at a price that will allow a new owner<br />
market. It is home to a diverse selection of hotels to make capital improvements and still be able to<br />
offering a variety of accommodations and a wide achieve a much lower all-in cost compared to the<br />
price range. Branson is a top vacation destination asset’s replacement cost.<br />
market with a myriad of attractions including over<br />
50 show theatres, caves and caverns, museums,<br />
theme parks, lake cruises, boating, fishing, kayaking,<br />
canoeing, golfing, and other outdoor activities.
BRANSON | AREA OVERVIEW<br />
Branson is located in the southwest corner of Missouri near<br />
the borders of Oklahoma and Arkansas. The frontier town<br />
of Branson was established in 1882, and for much of its<br />
early history, tomato canning was the predominant industry.<br />
This changed in 1896 when a visiting minister was charmed<br />
by the area’s scenic beauty that inspired him to write a<br />
book set in the region. The popularity of the book ignited<br />
a tourism boom in Branson, and since the early 1900’s<br />
tourism has been Branson’s principle industry. Branson’s<br />
tourism base expanded throughout the first half of the 20th<br />
century. In the 1950’s federal funds were appropriated for<br />
a dam construction project in Branson, sparking a flurry<br />
of entrepreneurial activity. Around this time several groups<br />
collaborated to have Branson’s first performance theatre<br />
built, and due to the success of this initial theatre, several<br />
other performance venues were created. Initially, these<br />
theatres were family-run and showcased local talent, but<br />
over the years the venues became popular with touring<br />
national entertainers.<br />
Today there are more than 50,000 seats in 40 theatres<br />
and nearly 500 shows by over 70 different acts each year.<br />
Branson’s performing arts industry now attracts more than<br />
8 million visitors annually. In the late 20th century, town<br />
leaders in Branson were wrestling with the impacts of relying<br />
on an economic development strategy that they coined as<br />
a “one-legged stool.” As tourism created a multitude of<br />
employment opportunities, many of the jobs were limited to<br />
specific time periods during the year. Due to Branson’s high<br />
level of seasonality, city officials embarked on a strategy<br />
to diversify its existing tourism strategy and to create more<br />
consistent year-round employment opportunities.<br />
In the early 2000s, local leaders unveiled plans for Branson<br />
Landing, a mixed-use project on Lake Taneycomo that<br />
included a 220,000 SF convention center, 140 waterfront<br />
luxury condominiums, and nearly 400,000 SF of retail<br />
space. This project represented an attempt to diversify<br />
Branson’s economy beyond musical entertainment and<br />
provide a stable, year-round economic impact. The scale of<br />
the Branson Landing project exceeded initial expectations<br />
and, through financing, generated an additional $130<br />
million for new infrastructure in the city. Today, Branson<br />
Landing rivals major mixed-use projects in cities across the<br />
country and attracted more than 1 million visitors in its first<br />
eight weeks. The city estimates that Branson Landing brings<br />
in more than 500,000 new visitors each year and helps<br />
generate more than $180 million in economic activity and<br />
another $8 million in tax revenue.<br />
PROPERTY DESCRIPTION<br />
Address<br />
3027 W Highway 76<br />
Branson, MO 65616<br />
Guest Rooms<br />
±344<br />
Parcel Size<br />
± 6.7 acres (±268,765 SF)<br />
Gross Building Area<br />
±129,877 SF<br />
Meeting Space<br />
±960 SF<br />
Hotel Amenities<br />
Outdoor pool complex, guest laundry, free parking,<br />
children’s playground, business center
Capital Markets | Auction Services<br />
SEE. BID. OWN.<br />
HOWARD JOHNSON :: 3027 W HIGHWAY 76 | BRANSON, MO<br />
AUCTION DAY<br />
The property will be offered “Minimum Bid” to the highest<br />
bidder at or above $1,000,000 in an online auction<br />
format.<br />
MAY<br />
8<br />
Wednesday, May 8th<br />
Bidding Start – 2:00pm CT<br />
Bidding End – 4:00pm CT<br />
www.cbremarketplace.com/howardjohnsonbranson<br />
PROPERTY INSPECTION<br />
The property will be available for inspection at<br />
2:30pm CT , on the following dates:<br />
Tuesday, April 16th | Tuesday, April 23rd<br />
Please note: All property inspections require registration<br />
and begin promptly. Please arrive at the designated<br />
meeting place a few minutes early to complete the required<br />
inspection registration form. To register for a property<br />
inspection or for any questions please call <strong>CBRE</strong> Auction<br />
Services at 800-815-1038. <strong>CBRE</strong> Auction Services<br />
represents the Seller in this transaction. Do not contact<br />
the Seller directly.<br />
DOCUMENT CENTER<br />
A Document Center has been made available for your convenience to review the available property specific information.<br />
The Document Center contains property information which typically includes: Purchase and Sale Agreement, Preliminary Title<br />
Commitment, Tax Bills, Environmental Report, Survey, and other pertinent property information. All bidders are required to<br />
purchase access to the Document Center as a condition of the auction. The Document Center access fee is $25 and may be<br />
paid by cash, check or credit card. Access can be obtained by visiting the auctioneer’s website at www.cbremarketplace.com/<br />
howardjohnsonbranson.com. Bidders will be required to execute a document indicating that, among other things, they have<br />
purchased access to the Document Center and have had the opportunity to review the items contained therein.<br />
INITIAL EARNEST MONEY<br />
In order to be eligible to bid, all bidders are required to wire transfer or present a cashier’s or certified check in the amount of<br />
$75,000 made payable to Title Company acting as Escrow Agent designated in the Purchase and Sale Agreement. Additional<br />
earnest money may be required from the purchaser. Please review the Purchase and Sale Agreement, available in the Document<br />
Center, for more details.<br />
BUYER’S PREMIUM<br />
A Buyer’s Premium in the amount of 10% of the Auction High Bid Amount will be added to the Auction High Bid Amount in<br />
order to determine the Total Purchase Price. Please review the Terms and Conditions of the Auction for more details.<br />
BROKER PARTICIPATION<br />
Broker participation is invited and requires adherence to the specific registration requirements as outlined in the Terms and<br />
Conditions. Please review the Terms and Conditions for more details.<br />
AUCTION DISCLOSURE<br />
The property is being offered on an “as-is, where-is” basis. Each bidder acknowledges that it is not relying upon any<br />
representation, statement or other assertion by the Seller, <strong>CBRE</strong>, Inc. or any of the agents, representatives or employees of any<br />
of the foregoing, with respect to the condition of the property, square footage, acreage and financial information, but instead,<br />
is relying upon the bidder’s own examination and investigation of the property. Please review the Terms and Conditions of the<br />
800.815.1038<br />
For more information please visit our website at<br />
www.cbre.com/auctionservices<br />
© 2013 <strong>CBRE</strong>, Inc. The information contained in this document has been obtained from sources believed reliable. While <strong>CBRE</strong>, Inc. does not doubt its<br />
accuracy, <strong>CBRE</strong>, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm<br />
its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future<br />
performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal<br />
advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the<br />
property for your needs. Photos herein are the property of their respective owners and use of these images without the express written content of the owner<br />
is prohibited. <strong>CBRE</strong> and the <strong>CBRE</strong> logo are service marks of <strong>CBRE</strong>, Inc. and/or its affiliated or related companies in the United States and other countries. All<br />
other marks displayed on this document are the property of their respective owners.PMC0003448