Marcus & Millichap (NYSE: MMI) a leading commercial real estate brokage firm specializing in investment sales, financing, research and advisory services recently announced the sale of duel-branded hotels, Sleep Inn and Mainstay Suites in Spokane. The hotels sold for $10,175,000 and is located on 7.26 acres at 3809 S. Geiger Blvd., the property offers 87 rooms across both Sleep Inn and Mainstay Suites accommodations.
Courtesy photo- Marcus & Millichap
"This was a rare asset to come to market as an almost brand-new hotel in an excellent location near the airport with extended stay options" said Jared Plamann, senior associate. "There continues to be added inventory and upscale conversions in the area, and the new owner will benefit from more development to come"
Plamann, Jake Erickson, Jon Ruzicka and Joseph Ferguson, investment specialists in Marcus & Millichap's Minneapolis office, had the executive listing to market the property on behalf of the seller, H&H Hospitality Spokane, LLC. Joel Deis, Broker of Record in Washington, assisted in closing the transaction.