Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a 91-room Comfort Suites hotel located in Huntersville, North Carolina. The property sold for an undisclosed price.
Jack Davis, Chase Dewese, Milin Mehta and Joce Messinger, investment specialists with the DDM Hotels Group of Marcus & Millichap, had the exclusive listing to market the property on behalf of the seller, in addition to procuring the buyer.
“This asset was sold as a part of a portfolio based on pro-forma revenues,” says Davis. “It was purchased by a local 1031 exchange client who intends to self-manage the property.”
The subject property is located at 16905 Caldwell Creek Drive in Huntersville, near the Birkdale Village mixed-use community and Lake Norman. Built in 1999 on 2.46 acres of land, the hotel is positioned conveniently off Interstate 77, 16.5 miles away from Charlotte.
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2022, the company had 1,904 investment sales and financing professionals in 81 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion. For additional information, please visit www.MarcusMillichap.com.
