By Jack Stubbs
On February 8th, in a transaction that was recently recorded, the Clarion Inn Hotel in Tacoma—located just south of the Tacoma Mall and a short distance from downtown Tacoma—sold for $10.5 million, or around $82,031 per room, Pierce County records show. The buyer was SM Heritage Inc., an entity based in Tacoma, and the seller was Grace T. Choi, an individual also based in Tacoma.
The 128-room Clarion Inn Hotel, located at 6802 Tacoma Mall Blvd., offers guests access to a variety of on-site amenities including a fitness center, lounge/bar, outdoor parking and a seasonal pool, according to the property’s web site.
The hotel’s proximity to downtown Tacoma—the site of various retail/commercial attractions like the Tacoma Dome, Tacoma Mall and the Museum of Glass—is one of its primary features. “Our Tacoma location, conveniently close to Joint Base Lewis-McChord, is just south of Seattle in one of the most beautiful areas in the country,” the web site states. “Overseen by the stunning Mount Rainier and charmingly close to Puget Sound, you can spend time enjoying the great outdoors in whatever way you see fit: hiking, biking and kayaking are all within reach.”
The property is also roughly five miles from the University of Puget Sound, four miles from Tacoma General Hospital, and 6.5 miles from Pacific Lutheran University.
There have been a number of multifamily property sales in Tacoma over the last few months, highlighting how the city is garnering increasing interest from investors, developers and residents looking to capitalize on the growing vibrancy and redevelopment opportunities there.
According to the City of Tacoma’s web site, there are several mixed-use development opportunities conveniently located in the heart of the city’s downtown core. Some of these include E. 25th & E. G. St., a transit-oriented development site adjacent to a 2,200 Stall Intermodal Transportation Center and just off I-5; a 23,100 square foot parcel suitable for a mixed-use employment center-oriented project; and another opportunity just south of the University of Washington Tacoma and a new Town Center, where 200,000 square feet of retail are in various stages of development.