7 Cumberland Dr
Washington, IN 47501
Baymont by Wyndham Washington · Hospitality Property For Sale · 33,304 SF

HREC Investment Advisors (“HREC IA”) is pleased to introduce an opportunity to acquire the fee-simple interest in the recently renovated 67-guestroom Baymont Inn & Suites Washington located at 7 Cumberland Drive, Washington, IN 47501 (referred to herein as “Hotel” or “Property”). The Hotel underwent a comprehensive renovation in excess of $500,0000 or approximately $7,500 per room during 2018 and 2019. Additionally, the Property is easily accessible from I-69, allowing the Hotel to fully capture demand generated by local and out-of-state travelers. Washington is located approximately 60 miles from Bloomington and 110 miles from Indianapolis. In 2015, a new southwest section of I-69 had been added, starting in Evansville and running north to Bloomington, making the Property even more accessible. The city of Bloomington is the seventh largest city in the state, which is only an hour’s drive away and the home of the top ranked Indiana University (IU) Hoosiers basketball and football teams; IU enrolls over 40,000 students. Additionally, the Hotel is conveniently located near the intersection of Route 150 and Interstate-69, proximate to the Gasthof Amish Village (nine miles), Country Oaks Golf Course (eight miles), and Dinky’s Auction Center (sixteen miles). Guests can also enjoy many outdoor activities at Hoosier National Forest, which is the largest government-owned forest Property of its kind in Indiana. The forest sprawls over 200,000 acres and is located just 25 miles from the Hotel. Daviess County is home to a number of notable commercial demand generators including WestGate@Crane Technology Park, a three-county effort between Daviess, Greene, and Martin counties, which is now home to many corporations. Operations at WestGate include the $7 billion URS corporation, and SAIC, the nation’s seventh-largest defense contractor. Other corporate demand generators include, Perdue Farms, a Washington-based turkey processing facility, and one of the largest employers in the area. Additionally, Grain Processing Corporation (GPC) makes an impact on the community well beyond its on-site employment; GPC buys about 30 million bushels of corn for its Washington plant annually. The Baymont Inn & Suites Washington is not the “typical” Baymont Inn, but was built in a colonial style consistent with the local history of Washington, IN. Developed as a two-story, interior corridor building with some small second-story balconies, the Property opened in 1995 and is in excellent physical condition. It is anticipated there will be a minimal Change-of-Ownership Product Improvement Plan (PIP) for a new owner since the Hotel completed extensive renovations throughout 2018 and 2019. Capital expenditures included case goods, soft goods, lobby, breakfast area, and exterior signage upgrades.