Bay View II Resort - Myrtle Beach,
South Carolina
255 Room - Oceanfront Residence Inn and Springhill
Suites � Myrtle Beach SC
July 28, 2008 - Hotel AG, an Atlanta based hotel
brokerage firm, has been engaged to sell the Residence Inn/ Springhill
Suites development project in Myrtle Beach South Carolina. The project
is an oceanfront development parcel approved for an 18 story, beachfront,
twin tower project housing a 255 room Residence Inn and Springhill Suites
by Marriott. The project is a .72 +/- acre parcel known as the Bay
View II Resort that has township approval and all entitlements. The
site has been approved for an 18 story 120 room Residence Inn and a 135
room Springhill Suites.
Much could be written; however the best source
is the Bay View Resort web site to see the quality of Bay View I and therefore
see the value potential in Bay View II. www.bayviewresort.com
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H. Keith Thompson
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The Bay View Resort is a 2 phase development known
as Bay View I and Bay View II. Bay View I is an existing 18 story, 188
unit oceanfront condominium project that was completed in March 2007.
As part of the Bay View Resort development, both projects required a fee
deeded parking structure and therefore the existing 5 story, 590 space
enclosed parking garage was completed in 2007 to serve as parking for both
Bay View I and Bay View II. Bay View II Development owns 366 of the spaces
and they are to be included in this sale. The development cost for the
garage alone was approximately $5,700,000.
Myrtle Beach needs no introduction and is known
as one of the fastest growing leisure destinations in the United States.
To point, Myrtle Beach is the second highest demand leisure market in the
United States, second only to Orlando, Florida. Not only was Myrtle Beach
named as America�s Best Family Beach by the Travel Channel, but Myrtle
has also emerged as one of the top theatre, entertainment and country music
destinations in the United States
The beach front development is in the high demand
area on the east side of Ocean Boulevard, just south of the intersection
with 6th Avenue North in the city of Myrtle Beach. The parcel for Bay View
Resort II is adjacent to the existing Bay View I Resort.
Hotel AG is pleased to offer this development
opportunity for $21,000,000/ 82,000 land cost per room including the parking
garage, all land entitlements, city approvals and franchise approvals,
etc.
For questions regarding the Bay View offering,
please feel free to contact H. Keith Thompson at (770) 692-1605. |