What is the story about?
What's Happening?
HomeTowne Studios Tacoma-Puyallup, a 133-key economy extended stay hotel, has been listed for sale. Located in the high-demand Seattle-Tacoma metro area, the property offers investors brand flexibility and operational upside, supported by Multi-Family Tax Exemption (MFTE) zoning. Built in 1999 and renovated in 2015, the hotel features 133 studio units with kitchenettes, catering to long-term lodging needs such as workforce housing and relocation. The property is positioned on approximately 3.93 acres of land and includes amenities like on-site laundry. The hotel benefits from its proximity to major demand drivers, including Boeing’s Frederickson facility, MultiCare Good Samaritan Hospital, and the Port of Tacoma, which contribute to a steady flow of logistics-related stays. Additionally, the Washington State Fair and regional tourism, with over 37 million annual visitors to the Seattle-Tacoma area, bolster leisure demand.
Why It's Important?
The sale of HomeTowne Studios Tacoma-Puyallup represents a significant opportunity for investors in the hospitality sector, particularly those interested in the extended stay market. The property's location in a high-demand area with strong industrial and institutional anchors ensures a consistent flow of business travelers, while its proximity to leisure attractions like the Washington State Fairgrounds enhances its appeal to tourists. The potential for operational improvements and the flexibility to convert the property under MFTE zoning add to its investment attractiveness. This sale could influence regional real estate dynamics, particularly in the extended stay segment, and may set a precedent for similar properties in the area.
What's Next?
The Call for Offers for HomeTowne Studios Tacoma-Puyallup is scheduled for September 17, 2025, at 5:00 PM (PST). Interested investors will need to consider the property's operational potential and market positioning. The outcome of this sale could prompt further transactions in the extended stay market, especially if the property achieves a favorable sale price. Stakeholders in the hospitality and real estate sectors will be watching closely to gauge market trends and investment opportunities in the Seattle-Tacoma metro area.
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