La Quinta Inn & Suites Lubbock West Medical Centre in Lubbock, TX Listed For Sale
La Quinta Inn & Suites Lubbock West Medical Centre
CBRE Hotels solicits offers to acquire the fee-simple interest in the La Quinta Inn & Suites by Wyndham Lubbock – Medical Center. The property is located off Highway 82, nestled among Texas Tech University, South Plains Mall, and United Supermarkets Arena, Lubbock Christian University, UMC Health System, and several restaurants and recreation area. Thanks to this location, the La Quinta receives business from a diverse population of both corporate and leisure clientele.
Investment Highlights
- La Quinta Inn & Suites – Opportunity to acquire a 128-room, five-story, interior corridor, La Quinta Inn & Suites that is located directly off Highway 82, providing convenient access for business travelers, students, tourists, and those relocating to the Lubbock, Texas area.
- Minimal PIP – The hotel is in excellent condition, requiring minimal capital improvements for a new ownership.
- Strong In-Place Cash Flow – In 2023, the La Quinta posted a net operating income (“NOI”) of approximately $1.1 million. The hotel’s strong cash flow and potential for increased market share make it an attractive opportunity for a new operator.
- Diverse Demand Base – The hotel is in proximity to the area’s top demand generators, including Texas Tech University, South Plains Mall, United Supermarkets Arena, UMC Health System, and the Buddy Holly Center. Thanks to its prime location, the hotel receives business from a diverse population of both corporate and leisure clientele.
- Strong College Market – Home to Texas Tech University, Texas Tech University Health Sciences Center, Lubbock Christian University and a fast-growing community college, Lubbock County boasts more than 50,000 college students. Lubbock is the only city in the nation with a comprehensive university, a health sciences center, an agriculture college and a law school in one location, making Texas Tech University the second largest contiguous university campus in the United States.
- $1 Billion Cheese Plant Underway – Leprino Foods, one of the largest producers of mozzarella in the world, broke ground on $1 billion cheese plant in East Lubbock in June 2022. The company executives say the plant will generate $10.6 billion in the area over the next 10 years. Additionally, the 850,000 SF facility is projected to bring in 300 construction jobs and more than 600 employees when it is operational.
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