Berkadia Arranges Sale of Waterfront Chase Suite Hotel Site in Tampa, Florida
The Chase Suite Hotel is located on a prime 4.58-acre site overlooking Tampa Bay
Tampa, Florida – September 18, 2024 – Berkadia announced today the sale of the Chase Suite Hotel, a 160-key extended-stay hotel on a 4.58-acre site in Tampa, Florida. Senior Managing Director Matt Mitchell, Director Chris Burtner and Associate Director Kyle Sahlsten of Berkadia Central & North Florida led the transaction on behalf of the seller, an affiliate of Hardage Hospitality. The property sold for an undisclosed price.
Berkadia marketed the 1986-vintage all-suite hotel property as a potential redevelopment opportunity.
“Chase Suite Hotel represented a rare waterfront redevelopment opportunity, with zoning that gives the new owner the option to execute on a variety of different strategies including new condo, hotel or mixed-use development, conversion to multifamily or continued operation as a hotel,” said Mitchell. “Located just west of the Westshore Business District, the island of Rocky Point is a premier destination where developers have recently constructed new Class A multifamily communities and hotels.”
Located at 3075 N. Rocky Point Dr. E, the property offers prime access to Tampa Bay and is just minutes from Tampa International Airport. Chase Suite Hotel, built in 1986, consists of 12 two-story residential buildings and a clubhouse on an irreplaceable waterfront location offering desirable views of Tampa Bay to the south and west. The hotel features 120 studio suites and 40 two-bedroom suites, each with fully equipped kitchens, ranging in size from 515 to 760 square feet.
The property enjoys convenient access to major highways and public transportation. It is situated close to the vibrant International Plaza and Bay Street, renowned for its high-end shopping, diverse dining options, and lively entertainment venues. Additionally, the nearby Rocky Point Golf Course and the picturesque Bayshore Boulevard enhance the appeal of the location, offering guests and potential developers a blend of leisure and convenience in a thriving area. The property is located approximately 20 minutes from Downtown Tampa, and 30 minutes from Downtown St. Petersburg and Clearwater.
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