Listing Agents
Adam Montufar
T | 515.446.4181
amontufar@paramountlodging.com
Brent Clemens
T | 312.402.2959
bclemens@paramountlodging.com
Detailed Information
Location
Property Highlights
- Fee simple interest in the 117-room La Quinta Inn & Suites by Wyndham Oklahoma City Norman
- Institutionally owned and available unencumbered by management
- Available for sale through a traditional marketing process
- Asset is subject to a PIP ceiling which is not to exceed $5,000 per key
- Ability for qualified franchisees to retain the La Quinta Inn & Suites by Wyndham flag with a new long-term license agreement
- Property is ideally oriented along Interstate 35 at exit 108B with upwards of 87,000 vehicles passing the location daily
- Proximate to several key area demand generators including the University of Oklahoma, Sam Noble Oklahoma Museum of Natural History, Riverwind Casino, Will Rogers World Airport (OKC), Chesapeake Energy Arena, and the 16th Street Plaza District
- Convenient to the 26,000-employee Tinker Air Force Base, a major US military instillation and the largest single site employer in the state
- Norman is the second-most populous city in the Oklahoma City MSA after the state capital, Oklahoma City, which is only 20 miles north
- Optimal time to be investing in the Oklahoma City MSA amidst unprecedented population growth making it now the 20th largest city in the US
- The Oklahoma City MSA remains a focus point for regional economic growth with extensive public and private investment including $1B+ in Pratt & Whitney regional investments, the proposed $1B Norman Entertainment Center development, and the proposed $900MM OKC Arena
- Oklahoma remains a focus point for US oil and energy production amidst renewed focus for expanded domestic energy production