Two Charleston Hotels Sell for Combined $5 Million
CHARLESTON, WV, July 14, 2021 – 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 both Quality Inn & Suites and Ramada by Wyndham, 140-room and 136-room hospitality properties located in Charleston, WV, according to Benjamin Yelm, regional manager of the firm’s Charleston office. Both properties sold for $2,500,000 each.
“We were fortunate to work along with the special servicer during this difficult time and transact within 90 days. We hope the new owners have great success moving forward,” said Joce Messinger, first vice president of investments in Marcus & Millichap's Charleston office.
Messinger, Chase Dewese and Josh Williams, investment specialists in Marcus & Millichap’s Charleston office, secured both buyers and sellers, and Francis McGuire, broker of record, assisted in closing this transaction.
Quality Inn & Suites is located at 1010 Washington St E in Charleston, WV. Ramada by Wyndham is located next door at 1000 Washington St E. The properties are in close proximity to the Avampato Discovery Museum, Appalachian Power Park and the Charleston Civic Center.
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About Marcus & Millichap (NYSE: MMI)
With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.