115 Room Springhill Suites Offered for Sale in Wheeling, WV

 

 

 

 

 

 

Paramount Lodging Advisors (“PLA”), as exclusive representative of the Seller, is pleased to offer for sale the SpringHill Suites Wheeling (the "Property" or "Subject Hotel").. The Subject Hotel is institutionally owned and third party managed.

Wheeling is the county seat and most populous city in Ohio County located in West Virginia. Wheeling is located in the northernmost point of the West Virginia panhandle and has a current population of over 28,000 residents. Due to its location in northern West Virginia proximate to Ohio, Wheeling has established itself as a bustling manufacturing city along major transportation routes including Railways serviced by National Road and B&O Railroad. Wheeling is part of the Wheeling Metropolitan Statistical Area which has a population of approximately 148,000 people.

Investment Highlights:
• 115-room SpringHill Suites, constructed in 2008, offered at a substantial discount to replacement cost and the ability to retain the Marriott flag for a new long-term license
• Property offered for sale through Ten-X in the November 14th - November 16th auction and is unencumbered of debt and management
• Trailing-36 month average occupancy of approximately 75% and average ADR of approximately $117
• Located directly in the heart of the Interstate 70 corridor with upwards of 50,000 cars passing the location daily, and nearly $500MM of ongoing interstate and infrastructure improvements being completed in neighboring Washington County
• Situated adjacent to Wheeling Jesuit University and proximate to all broader Wheeling demand including the new $16MM Health Plan headquarters (scheduled to bring 350 new jobs to downtown Wheeling)
• Ideally positioned within the broader Pittsburgh Combined Statistical Area, a top-20 CSA that is home to nearly 2.7MM residents

 

https://www.ten-x.com/commercial/details/908-national-rd-wheeling-wv-26003-193050553-b_193

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