Listing Agents
Lora Simpson
T | 515.729.4516
lsimpson@paramountlodging.com
Adam Montufar
T | 515.446.4181
amontufar@paramountlodging.com
Kami Burnette
T | 512.574.1786
kburnette@paramountlodging.com
Detailed Information
Location
Property Highlights
- Fee simple interest in the receiver-managed 224-room Hotel City Center Topeka, KS available at a fraction of replacement cost
- Hotel will be sold unencumbered of management and brand during the June 7th auction event on Ten-X
- Property has been under court-appointed receivership since June 2021, affording the opportunity to capitalize on immediate operational upside
- T12 Feb. ’23 RevPar has increased 30.1% since YE 2021 and is reflective of positive demand momentum in the Topeka market
- Several attractive franchise options exist within the Hilton and Wyndham brand families among others
- The hotel is situated on the 80-acre Stormont Vail Events Center campus adjacent to Maner Conference Centre
- Ideally located along SW Topeka Blvd, the property is within walking distance of downtown Topeka and the Kansas State Capitol Building complex
- Convenient to all broader Topeka demand including West Ridge Mall, Stormont-Vail Hospital, Washburn University, and the $100MM Wheatfield Village mixed-use development
- Topeka is the state capital of Kansas and located directly west of approximately 2.17MM residents in the Kansas City MSA
- Topeka is ranked 4th in the Wall Street Journal’s Realtor.com 2023 Emerging Housing Market Index, which identifies top metros with an appreciating housing market, strong local economy, and appealing lifestyle amenities
- Optimal time to be investing in Topeka alongside several projects including the $125MM Goodyear Tire & Rubber Co., and $175MM Mars Wrigley, manufacturing plant expansions among several others