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Key Facts

Year Built 1969
Occupancy 71.0 %

Property Description

The Holiday Inn Raleigh Downtown is a 203-room full-service Hotel located in the heart of Downtown Raleigh. The Property features some of the best panoramic views of the city, as well as an extensive amenity set including Skye Tower Restaurant & Lounge situated on the Property’s 20th floor, a fitness center, a business center, room service, guest laundry facilities, and 6,376 square feet of meeting and event space. Originally built in 1969, the Hotel is in very good condition having received $7.1 million ($35,000 per room) in capital expenditures since 2013. Situated at the intersection of Downtown Raleigh’s four prominent districts, the Holiday Inn is surrounded by higher-education institutions; well-managed state and local governments; tourism attractions; and many of the nation’s leading technology, financial services, pharmaceutical, and healthcare firms including IBM, Citrix, Wells Fargo, Red Hat, PNC, and NC State University amongst others. The adjacent Development Parcel is a +/- 0.51 acre high-density development opportunity. Ideally situated and entitled for development today, the site allows the buyer the opportunity to tailor to the creativity of the Warehouse District, the history of the Capital District, and the lively atmosphere of Glenwood South. One of the best attributes of this site is the in-place zoning that allows for a high density 20-story development by-right today. Current zoning allows for a mix of uses including Office, Retail, Multifamily and Hotel. Downtown Raleigh has continued to witness a large influx of development project announcements and groundbreakings to keep up with its growing popularity as a live, work, play city.

Investment Highlights

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer, on an exclusive basis, the fee simple interest in the 203-room Holiday Inn Raleigh Downtown (individually the “Hotel” or “Property”) and an adjacent 0.51 acre Development Parcel located at 300 Hillsborough Street (individually the “Development Parcel” or “Property”) (together the “Properties”) situated in one of the fastest growing metropolitan areas in the country. The Properties are ideally located in Downtown Raleigh, across the street from the Raleigh Crossing mixed-use development (Phase I delivery in December 2021) and within walking distance of the city’s offices, government buildings, entertainment venues and convention center. Offers will be considered on the Hotel and Development Parcel individually or on a combined basis.
Last Updated Date: 07 Aug 2020
Matthew Enright
Matthew Enright
Director, Capital Markets
License details
9562307
Sarah Godwin
Sarah Godwin
Director, Capital Markets
License details
NC-270966 SC-108916

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Last Updated Date: 07 Aug 2020

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