By Kate Snyder
A recent sale in Everett’s hospitality market shows that investors have no interest in abandoning the area. Another of the Puget Sound region’s La Quinta Inns traded hands, according to Snohomish County public records. The sale price was listed as $10.2 million, or approximately $139,726 per room. The buyer was an entity affiliated with Everett-based Harman Investment Group, Inc., and the seller was an entity affiliated with Yi Ya Hoo Enterprise LLC.
The La Quinta Inn by Wyndham Everett is located at 12619 Fourth Ave. W. The building was constructed in 1989, property records show, and totals approximately 31,664 square feet in three stories plus a basement area. The property sits just off Interstate 5 and approximately 16 miles south of downtown Seattle. Nearby businesses include the Paine Field Airport, Boeing and the Port of Everett Marina. According to the property’s website, hotel amenities include a seasonal outdoor pool and a fitness center.
The Puget Sound region has seen a number of sales transactions in the hospitality market in the past year.
Another deal in Everett that was recorded last year involved the sale of the Holiday Inn Express & Suites Everett for $17 million, or approximately $171,717 per unit, according to The Registry’s previous reporting. The buyer was an entity affiliated with NITSI, LLC, in Redmond, and the seller was an entity affiliated with EKOB, Inc. Located at 131 128th St. SW, the hotel is affiliated with IHG and is a three-story building with 99 rooms.
Earlier this year in Tacoma, another La Quinta Inn also traded hands. The 155-room La Quinta Inn & Suites by Wyndham Tacoma was purchased for $19 million, or approximately $122,580 per room. The buyer was an entity affiliated with HSR Hotel Group LLC, and the seller was Cavalier St Aggregate Propco LP, which shares an address with Highgate, a hotel management, investment and development firm. The property is located at 1425 E 27th St.
