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La Quinta Inn & Suites Fremont/Silicon Valley
CBRE Resorts solicits affords to amass the fee-simple curiosity within the corporate-owned La Quinta Inn & Suites in Fremont, California. Situated off Interstate 880 and shut to Tesla Fremont Gigafactory, HPE, Seagate, Western Digital, Amazon Warehouse, and the Pacific Commons Procuring Heart, the 148-room lodge receives enterprise from a various inhabitants of each company and leisure segments.
Funding Highlights
- Company-Owned La Quinta Inn & Suites – Alternative to amass a corporateowned, 148-room, five-story, La Quinta Inn & Suites that’s positioned off Interstate 880 within the southeast San Francisco Bay Space.
- Administration Upside – The La Quinta will likely be delivered unencumbered of administration. Because of the present operator’s nationwide scale and substantial allocation for company overhead, this mission presents important potential upside for a extra hands-on proprietor operator to drive important worth by means of enhancements in operational efficiencies and price administration.
- Underperforming the Comp Set – The lodge is considerably underperforming its aggressive set. In 2023, the lodge posted a 80.7 RevPAR index to the comp set, rating 3 of 5 motels. Given the restricted new provide within the pipeline, the La Quinta will be capable to improve its market positioning by capitalizing on the robust restoration of company, group, and leisure demand out there.
- PIP Cap – Per Part O of the Wyndham Franchise Settlement, there’s a favorable PIP cap in place that’s transferable to the Purchaser. Following this capped PIP, there is then a 6 yr PIP vacation.
- Handy Location – Situated off Interstate 880 and simply 11 miles from Norman Y. Mineta San Jose Worldwide Airport, the property supplies handy entry to an array of key lodge demand turbines, together with Tesla Fremont Gigafactory, HPE, Seagate, Western Digital, Amazon Warehouse, the Pacific Commons Procuring Heart, Mission Peak and Mission San Jose.
- Fremont – “{Hardware} Aspect of the Bay” – Fremont is named the “{hardware} facet of the Bay.” With over 900 superior manufacturing firms primarily based in Fremont, superior manufacturing accounts for one in each 4 jobs within the metropolis. Moreover, Fremont has the most important industrial actual property stock within the area, offering extremely wanted large-format area for the Valley’s most modern firms.
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