Listing Agents
Lora Simpson
T | 515.729.4516
lsimpson@paramountlodging.com
Chuck Klinkhammer
T | 701.298.2929
cklinkhammer@paramountlodging.com
Adam Montufar
T | 515.446.4181
amontufar@paramountlodging.com
Detailed Information
Location
Property Highlights
- Fee simple interest in the DoubleTree by Hilton East St. Paul, MN offered through a traditional sale
- Minimal change of ownership PIP anticipated with seller having completed an $8.5MM ($44k/key) conversion of the hotel to DoubleTree in 2018
- Available unencumbered of management with ability to retain the DoubleTree flag for a full relicense term at sale
- Immediately visible and accessible from Interstate 94 at exit 246C, a location passed by upwards of 81,000 vehicles daily
- Within walking distance of 3M’s 400-acre global headquarter campus and one of only two nationally franchised full-service hotels serving the greater east St. Paul submarket (Maplewood, Oakdale, Woodbury, etc.)
- Proximate to all local area demand including Ecolab Inc. headquarters, the Xcel Energy Center, the RiverCentre, Regions Hospital, the Minnesota State Capitol complex, and the rest of Downtown St. Paul
- Convenient to all broader Minneapolis-St. Paul regional demand including the University of Minnesota, the Mall of America, the Target Center, Target Field, U.S. Bank Stadium, and the Minneapolis-St. Paul International Airport
- 2023 is forecasted to be a strong year for large events in the region with Minneapolis anticipating 37 citywide events (compared to 31 in 2022) and St. Paul poised to host several consumer shows with attendance estimates between 10,000 – 180,000+
- Now is an ideal time to be investing in the country’s 16th largest MSA (~3.7MM residents) as hotel fundamentals continue to trend towards full recovery and substantial new projects such as the $800MM RiversEdge and 125-acre Highland Bridge development come to fruition