A large hotel situated within the boundaries of a busy business park in Denver is being listed for sale by real estate giant CRBE.
The seven-story Hilton Garden Inn, located at 7675 E. Union Avenue, changed hands a decade ago for around $27.9 million, and, according to the publication HNR Hotel News, is now “poised to recapture high-rate corporate business.”
The hotel is additionally, continues the publication, forecast to produce an income margin “to the 30% level achieved historically.”
With 180 rooms, the hotel features a swimming pool, fitness center, business center, and nearly 4,700 square feet of business space.
The hotel is a part of the Garden Inn line offered by the famous Hilton group which is made up of just under 900 hotels globally.
But it is the property’s four-acre site within the Denver Tech Center business park that is perhaps its greatest selling point. First developed in the early 1970s, the park has offices for some of the biggest names in corporate America, including Dow Jones & Company, the Comcast Corporation, JP Morgan Chase and Company, and PepsiCo Incorporated.
Altogether, the business park comprises around 37 million square feet of office space. Earlier this year a 263-room Sheraton property located within the Denver Tech Center sold for $16.2 million.
The Hilton Garden Inn Denver Tech Center property was acquired in the fall of 2013 by Chatham Lodging Trust, based in West Palm Beach, Florida.
By Garry Boulard
