Listing Agents
Brent Clemens
T | 312.402.2959
bclemens@paramountlodging.com
Subu Thiagarajan
T | 510.205.7931
subu@paramountlodging.com
DRE#01891134
Detailed Information
Location
Property Highlights
- Fee simple interest in the institutionally owned and third-party managed 247-room Embassy Suites by Hilton in Tulsa OK
- Available unencumbered of debt and management with the ability to relicense under the existing Embassy Suites flag with a new, long-term franchise agreement
- All-suite product offered at discount to replacement cost allowing for strong operational upside for regional owner / operator
- The all-suite product allows for potential conversion to alternative use, including potential residential conversion
- Tulsa is uniquely positioned to capitalize on post-COVID recovery with substantial market investment in recent years including investments by Amazon ($160MM), COX Business Center ($55MM) and USA BMX National Headquarters ($23MM)
- Proximate to 8MM square feet of office space with blue-chip-tenants including State Farm Insurance, US Cellular, and Avis
- Adjacent to and directly visible from the heavily trafficked Interstate-44 and US Highway-64 (Broken Arrow Expressway) with upwards of 200,000 vehicles passing the location daily
- Ideally located within minutes of downtown Tulsa and all core regional demand including Oral Roberts University, Tulsa Convention Center, BOK Center, University of Tulsa, and Tulsa International Airport
- Tulsa International Airport passenger count is approaching pre-pandemic levels with 2021 passenger traffic up nearly 58% over 2020 figures