Sheraton West Des Moines IA
Offered unencumbered by debt and management
Marketing description
Opportunity to acquire the institutionally owned and operated 285-room Sheraton West Des Moines
Located in the Midwest’s fastest-growing major metro, minutes from Des Moines International Airport, which is undergoing a $770 million expansion
Fixed, low-cost (1% of Rooms & F&B Revenue) long-term ground lease with no fair market value resets
Property is offered unencumbered by debt and management, and at a significant discount to replacement cost
Ability to retain the Sheraton brand through a long-term franchise agreement with Marriott
Strong operational upside in transitioning the hotel from institutional ownership and driving operating efficiencies through more regionalized revenue and expense management
One of only four full-service hotels in West Des Moines, featuring one of the area’s largest hotel event spaces with approximately 22,320 SF of conference space
Strategically located near Interstates I-235 and I-80/35, with direct access and visibility via the University Avenue exit, and over 105,000 vehicles passing the location daily
Surrounded by headquarters and large campuses for major national insurance companies, including GuideOne Insurance, Farm Bureau Financial, American Equity Investment Life Insurance Co., Athene USA, Merchants Bonding Co., and Sammons Financial Group
Located near large financial services and mortgage operations, such as Wells Fargo Home Mortgage and West Bank's new 73,000 SF headquarters
Located within one mile of West Des Moines’ two regional hospitals—MercyOne West Des Moines Medical Center and UnityPoint Health – Methodist West Hospital—as well as numerous clinics, including the Iowa Clinic, home to Iowa’s largest multi-specialty physician group
Minutes from major leisure attractions, including the 1.1 million SF Jordan Creek Town Center, TopGolf West Des Moines, Spare Time Entertainment, Smashpark, and Historic Valley Junction
Less than two miles from the MidAmerican Energy Company RecPlex, a 150,000 SF multi-use sports and event complex with two ice arenas, 20,000 SF of exhibit space, and a planned 100,000 SF expansion to add a third ice arena with seating for 3,000, additional exhibit space, support facilities, and a dedicated Event Center for concerts, conventions, and sporting events
The $600 million indoor water park, The Grand Experience, has been proposed for Grand Avenue in West Des Moines and will feature an 80,000 SF indoor water park, a family entertainment center, and a 35,000 SF conference center
Investment highlights
West Des Moines benefits from its proximity to Des Moines, Iowa’s capital city, offering access to a stable government hub, strong regional economy, and a deep base of institutional and corporate demand
Downtown Des Moines drives strong corporate demand as home to several Fortune 500 companies and major employers, including Principal Financial Group, Nationwide, EMC Insurance Companies, Wellmark Blue Cross & Blue Shield, and MidAmerican Energy Company
Des Moines International Airport is undergoing a $770 million expansion, “LiftDSM,” which will add a new 18-gate modern terminal and a 1,100-space parking garage to support growing passenger demand
Greater Des Moines is the Midwest’s fastest-growing major metro, with a 6.3% population increase from 2020 to 2024, ranking in the top 20% of U.S. metros for growth
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Is there information that looks off?
