Southside Best Western Sells for $9.6 Million
JACKSONVILLE, FL, September 22, 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 Best Western Southside Hotel Jacksonville, a 99-room hospitality property located in Jacksonville, FL, according to Benjamin Yelm, regional manager of the firm’s Charleston office. The asset sold for $9,600,000.
“Despite the COVID-19 pandemic, this hotel continued to perform, and we were able to get this deal closed,” says Jack Davis, first vice president investments.
Davis, in addition to Joce Messinger and Josh Williams, had the exclusive listing to market the property on behalf of the seller, a private investor, in addition to securing and representing the buyer. Ryan Nee assisted in closing this transaction as Florida broker of record.
Best Western Southside Hotel Jacksonville is located at 4580 Collins Rd in Jacksonville, FL. Featuring 99 guest rooms, this is the hotel in closest proximity to the Jacksonville Naval Complex. Amenities include an outdoor pool, complimentary Wi-Fi and breakfast and a premium meeting space.
# # #
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.