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TAMPA, Florida—Berkadia announced 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 Westchase Business District, the island of Rocky Point is a premier destination where developers have recently constructed new Class A multifamily communities and hotels.”
The property offers access to Tampa Bay and is just minutes from Tampa International Airport. Chase Suite Hotel consists of 12 two-story residential buildings and a clubhouse on a waterfront location. The hotel has 120 studio suites and 40 two-bedroom suites, each with fully equipped kitchens ranging in size from 515 to 760 square feet.
The property has access to highways and public transportation. It is situated near the International Plaza and Bay Street and is known for its shopping, dining options, and entertainment venues. Additionally, the nearby Rocky Point Golf Course and Bayshore Boulevard appeal to visitors, offering guests and potential developers a blend of leisure and convenience. The property is located approximately 20 minutes from Downtown Tampa and 30 minutes from Downtown St. Petersburg and Clearwater.
