La Quinta Inn & Suites Tacoma Seattle

1425 East 27th Street, Tacoma, WA, 98421, US

Asset Description

JLL's Hotels & Hospitality Group, as the sole and exclusive representative of the Seller, is pleased to offer for sale the fee simple interest in the 155-key La Quinta Inn & Suites Tacoma Seattle (the "Hotel" or "Property") located in Tacoma, Washington.

Nestled in the core of Tacoma, the Hotel boasts an irreplaceable location less than two miles from downtown, near popular attractions such as the Tacoma Dome, Museum of Glass, LeMay America's Car Museum, Washington State History Museum, and Greater Tacoma Convention Center. Additionally, the Hotel’s adjacency to Interstate 5 (I-5) provides convenient access to the region’s largest employers including Boeing, Port of Tacoma, Joint Base Lewis-McChord, and more. The Hotel is offered unencumbered by management and at a significant discount to replacement cost.

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Attributes

Keys

155

Year built

1985

Media

Investment Highlights

Fee simple
Unencumbered by management, allowing alternative management strategies
Offered at a significant discount to replacement cost
Renown La Quinta Inn & Suites brand affiliation
Strong lodging market fundamentals, year-end 2024 RevPAR surpassed year-end 2019 by 20% in the Tacoma/Olympia lodging tract
Strategically located to capitalize on key demand drivers, which includes the expansion of Boeing, the Tacoma Dome, Port of Tacoma, and more
Administer a strategic renovation to garner increased market share
Reposition the food & beverage outlets
Capitalize on implementation of paid parking
Explore brand repositioning