Candlewood Suites & avid Dual-Brand Development
Dual-Brand Hotel Development Opportunity for Sale | Prime Airport Location Preview text
Marketing description
Joel Deis // Broker of Record // License WA 25469
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Marcus & Millichap has been chosen to exclusively market for sale the Candlewood Suites & avid Dual-Brand Development, a 100-key, five-story hotel to be built in the Seattle MSA. The planned project, located in the SeaTac/Tukwila area, will combine amenities such as avid's free breakfast and 24-hour coffee with Candlewood’s fully-equipped kitchens and free laundry facilities.
The Tukwila/SeaTac submarket as a whole is a transportation-driven area centered on airport and highway access, making it a strong hub for logistics and industrial activity. The 0.91-acre site is ideally situated off Interstate 5 and just one mile from Seattle-Tacoma International Airport, which accommodated more than 52 million passengers in 2024. The region hosts a major Boeing spare parts facility and boasts a high concentration of hospitality, logistics, and aviation-related businesses, creating over 35,000 jobs. Alaska Airlines corporate headquarters is located nearby and features a newly opened training facility that will bring thousands of employees to the immediate area annually. The site is also located just nine miles to Downtown Seattle and its world-renowned tourist attractions.
The Candlewood Suites & avid Dual-Brand Development represents the opportunity to acquire a well-located hotel site and develop an IHG-branded hotel in a strong market. The hotel will benefit from excellent brand recognition and a location in a high-traffic area ideal for the brand's target market. Our Pro Forma analysis assumes continued modest growth supported by the increasing population and demand growth in the Seattle region.
Investment highlights
- Well-Appointed Five-Story, IHG-Branded Hotel to be Built in the Seattle MSA
- Plans Include a Sleek Design, Shared Amenities and an Onsite Parking Structure
- Candlewood Suites & avid Dual-Brand is a Rapidly Growing Concept
- Versatile Target Market: Families, Short-Term, and Extended-Stay Visitors
- 1 Mile to Seattle-Tacoma International Airport (52.6M+ Passengers in 2024 | Undergoing $500M+ Expansion)
- Within 3 Miles of Alaska Airlines Corporate Headquarters & Newly Opened Training Facilities, which Attracts Thousands of Employees to the Area
- Nearby Attractions Include Highline SeaTac Botanical Garden, Starfire Sports Complex, The Museum of Flight, and Several Major Sporting/Event Venues
- 9 Miles to Downtown Seattle and its World-Renowned Attractions, Including the Space Needle, Pike Place Market, Seattle Waterfront & Great Wheel, and More
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