Hunter Hotel Advisors facilitated the sale of the TownePlace Suites Knoxville Cedar Bluff. A local investor purchased the property.
The The 97-key hotel is located in a prominent commercial and retail corridor featuring access to destinations including Downtown Knoxville, the University of Tennessee—home to more than 30,000 students, Neyland Stadium and Thompson-Boling Arena. Knoxville serves as host to major corporations such as Clayton Homes, Pilot Corporation and Regal Cinemas, significantly contributing to the city’s economic growth. Y-12 National Security Complex, Oak Ridge National Laboratory and Tennessee Valley Authority bolster the region’s Federal and State government presence.
Hunter’s Tim Osborne, SVP, represented the institutional seller. “Knoxville is a high-growth market, and the buyer will renovate the property to the most current TownePlace standards to provide a newly competitive extended stay product to capture the growing area demand,” he said.
