For Auction
Crowne Plaza Columbus North-Worthington
Columbus, OH 43229Represented by
Hodges Ward Elliott
Asset Snapshot
Offering Summary
Investment Highlights
- 9-Story, Full-Service Hotel Surrounded by Several Corporate HQ and Leisure Demand Drivers
- Prominent Visibility and Convenient Access Adjacent to I-71
- Offered Unencumbered of Debt and Management at a Significant Discount to Replacement Cost
- Resilient and Diverse Economy Supported by Insurance, Manufacturing, Healthcare, and Higher Education
- Second Largest Meeting Space Offering in North Columbus with 20,000 SF of Flexible Event Space
- Muted Hotel Supply Pipeline with No Projects Under Construction or In Planning
- Potential for conversion of use – please ask broker for more details
Property Overview
Hodges Ward Elliott (“HWE”) is pleased to offer, on an exclusive basis, the opportunity to acquire fee-simple interest in the 300-key Crowne Plaza Columbus North-Worthington (the “Property” or “Hotel”). Located in Columbus, Ohio, the 9-story, full-service Hotel features prominent visibility from the adjacent I-71 with convenient access to Worthington Industries HQ (NYSE: WOR; 9 mins), Downtown Columbus (15 mins), Nationwide Arena (15 mins), The Ohio State University (15 mins), John Glenn Columbus International Airport (15 mins), and the 1.3M SF Polaris Fashion Place (12 mins). Located two blocks north of the Property, the 600-employee Anheuser-Busch Columbus Brewery that has served as a staple of the community for 55 years announced a $20M facility investment in 2021. The Hotel’s central location in Worthington draws demand from 12.4M SF of office space and 23,000 multifamily units within a three-mile radius. In all, the Columbus metropolitan area is home to at least 20 Fortune 1000 companies including the corporate HQ for Nationwide Insurance (15 mins), Safelite Group (14 mins), L Brands (17 mins), and Cardinal Health (18 mins). With no new supply in the hotel pipeline and offered at a discount to replacement cost, investors will have the ability to employ their own management philosophy to improve operations and profitability as the non-union Hotel is offered unencumbered of debt and management.Due Diligence
Platform Fee
Buyer pays platform fee at closing.
5% or $25,000 minimum
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Disclaimers
The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
