Integra-San Diego recently valued the going concern interest of a hotel resort property, consisting of 70,833 SF gross leaseable area on 5.75 acres. The property has 146 rooms, was built in 1981 and renovated in 2010. The purpose of the appraisal was for portfolio management.
In the first 6 months of 2016, IRR-San Diego’s Hospitality Valuation Group has completed 40 hospitality appraisal assignments, ranging from small, independently owned bed & breakfast motels, to full service, major chain luxury hotels. These 40 appraisal assignments have a combined real estate value of over $282 million, and a combined gross building area of 1.7 million square feet. The hotels were located throughout San Diego, Orange and Los Angeles counties, and other California locations, including Fresno, Santa Barbara and Santa Cruz. IRR-San Diego’s principal and Sr. Managing Director, Jeff Greenwald, MAI, SRA, ASA, AI-GRS, FRICS, is also licensed in Washington, Oregon, Arizona, Texas, New Mexico, and Georgia. Several of the 40 appraisal assignments completed were located in those states.
For further information on IRR-San Diego’s Hospitality Valuation Group or a copy of their brochure, please email email@example.com.
Integra Realty Resources – San Diego has just completed the appraisal of 20 properties for estate tax purposes with a combined real estate value of over $100,000,000. The properties, located in and around San Diego county consisted of 6 multi-tenant retail properties, 4 industrial properties and 1 industrial business park, 2 multi-tenant office properties, 1 medical office, 3 multi-family properties, and 2 hotel properties, with a combined square footage of over 500,000 SF.
Office Property – 6,500+ SF Rentable Area
73,000 SF Rentable Area on 4.30 Acres
66,416 SF Rentable Area – Part of 20 Property Trust Portfolio
We are pleased to present copies of our recently released IRR Viewpoint 2015, Integra Realty Resources’ signature publication. In this annual edition, we provide market value trends for investment-grade real estate across the San Diego market. Read More
IRR San Diego’s Hospitality Practice Group has completed a commercial appraisal of a hotel property located in the community of Pacific Beach in San Diego. The property consists of a non-franchised, limited service hotel that has 24 rooms. The improvements were constructed in 1952, and each room includes a fully equipped kitchens. The subject site area is 0.36 acres. The purpose of this commercial valuation was for loan underwriting purposes for a lender.
If you have any hotel valuation questions or needs, please contact us today at 858.259.4900 or firstname.lastname@example.org. Also, please be sure to check out our Hospitality page for more information on our hotel appraisal practice.
Integra San Diego has completed a commercial appraisal of a hotel property located in Escondido in San Diego County. The property is an existing limited-service hotel that contains almost 70 rooms. The improvements were constructed in 1985 and are situated on 1.15 acres of land. The purpose of this commercial valuation was for loan underwriting purposes for a lender.
If you have any hotel valuation questions or needs, please contact us today at 858-259-4900 or at email@example.com. Also, please be sure to check out our hospitality appraisal page for more information on our specialty practice.
IRR San Diego attended Bisnow’s Hospitality Summit, where developers, investors, and even Padres management shared their views on the San Diego Hotel market. Here is a recap of the event.
The San Diego tourism market is climbing quickly out of the recession, with occupancy rates above 78% according to Joe Terzi of the San Diego Tourism Authority. With such a strong recovery and a forecast of ever-improving market conditions, hotel owners are holding on to their investments, which is leading to a lack of inventory. Like other property types where money is chasing few deals, it is a difficult time to buy hotels in San Diego (despite the low cost of capital), which is leading some to believe that San Diego hotels may reach the $1 million per room threshold.
Another trend for hotel properties is to buy in Downtown San Diego, one of the hotter submarkets in the area (which is a similar trend for apartment developers and investors that spoke at the last Bisnow summit). While the panelists agree that it is difficult to build downtown (see below for challenges), this consequently creates no oversupply, but rather opportunities for infill projects. Read More
Integra Realty Resources has completed two commercial real estate appraisals of hotel properties located in Central California.
The first is a non-franchised, limited service hotel located in Modesto, Stanislaus County. The property contains 40 roomsl an outdoor swimming pool; and a two-bedroom, one-bathroom manager’s apartment. The building was built in 1964 and is situated on a 0.68 acre lot. The purpose of this hotel valuation was for loan underwriting purposes for a lender.
The other hotel recently appraised is an existing 70-room, interior loaded, extended stay flagged hotel in Bakersfield, Kern County. The property, constructed in 2009, has approximately 34,000 square feet of gross building area and is located on a 1.81 acre site. Special features for this flagged hotel include a pool and spa, guest laundry, vending machines, and a manager’s apartment. The purpose of this hotel valuation was also for loan underwriting purposes for a lender.
If you have any questions about hospitality valuations in California, or are in need of a commercial real estate appraisal of a hotel or motel appraisal, please contact us today at 858-259-4900 or firstname.lastname@example.org. Also, please be sure to check out our hospitality page for more information on our specialty practice as well as a sample of previous assignments.
As one of the leading hotel appraisal firms in the Western United States, Integra San Diego has completed hospitality valuations both inside and outside of California. Recently, we completed two hotel valuations in Arizona.
The first is a an independent hotel property located in Sierra Vista in Cochise County. The property consists of five buildings built in 1987 that have a total gross building area of over 33,000 square feet. Three of the buildings contain 56 rooms, while the other two buildings are built out as a lobby and a clubhouse. The site area is 2.32 acres.
The other hotel property is located in Kingman, Mohave County, Arizona. This independent motel property contains 36 rooms and has special features such as a manager’s apartment and a basement storage area. The improvements were built in 1957 and added onto in 1963. The subject site consists of 1.13 acres on three non-contiguous parcels. Both this motel appraisal and the Sierra Vista hotel valuation were performed for loan underwriting purposes for a lender.
For additional information on our hotel specialty practice, please visit the hospitality section of our website. Also, please contact us directly with any hotel valuation questions or needs.
IRR San Diego has completed a commercial appraisal of a proposed hotel property located in San Diego. The property is a 0.63 acre site currently developed with an limited-service hotel, but the owners plan to redevelop the property as a multi-occupancy structure with a hotel, residential condominiums, retail, and a restaurant. The project is expected to be delivered in approximately two years. The purpose of this commercial valuation was for loan underwriting purposes for a lender.