TownePlace Suites by Marriott

• Proposed 116-key TownePlace Suites by Marriott totaling approximately 73,000 SF on approximately 3.4 acres allocated to hotel development
• Location: Vero Beach Regional Airport, Vero Beach, Florida
• Ground Lease: 50-year FAA ground lease with long-term site control
• Status: Design, site plan approval, and building permit completed
• Timeline: Q3 2026 loan closing and construction commencement, with projected opening in Q4 2027
• Estimated Total Project Cost: Approximately $37.3M, or approximately $322K per key

Investment Highlights

• First hotel positioned at Vero Beach Regional Airport and the only hotel with direct, walkable adjacency to MLB’s Jackie Robinson Training Complex
• Located across from a 72-acre, year-round sports and athletic training destination that hosts more than 400 teams and 10,000 participants annually across approximately 240 event nights
• Extended-stay Marriott product is designed for team, family, business, healthcare, and aviation-related demand
• Amenities include in-room kitchens, complimentary hot breakfast, full-service lobby bar with limited food menu, flexible meeting space, fitness center, pool deck, outdoor seating, BBQ grill area, and the exclusive Home Run Dugout digital batting cage entertainment venue with F&B integration
• Home Run Dugout amenity supports group reservations, team buyouts, event-based bookings, non-hotel guest reservations, and incremental food and beverage revenue
• Site is approximately ½ mile from Vero Beach Regional Airport terminal, 2 miles from Cleveland Clinic Indian River Hospital, 2 miles from downtown Vero Beach, less than 5 miles from the beach, and less than 6 miles from I-95
• Project benefits from $1M in City and State grant funding for critical infrastructure, including utilities, drainage, paving, and sidewalk improvements
• Vero Beach lodging market benefits from multiple demand drivers, including youth sports, healthcare, aviation, corporate activity, and leisure travel
• New supply is constrained by limited airport-adjacent land availability and elevated construction costs, supporting a disciplined competitive environment
• Marriott financial participation includes $500,000 in key money and approximately $400,000 in franchise fee and ramp-up discounts, reflecting brand support for the location and project execution strategy