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Marcus & Millichap Brokers the Sale of a 69-Room Hotel in Ottawa

November 16, 2022

OTTAWA, Ill., Nov.16, 2022 – 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 Comfort Inn, a 57,064-square-foot hotel in Ottawa, Illinois. The property sold for $6.1 million.

“The transaction was fairly smooth even with the volatility in the debt market,” said Scott Havericak, first vice president investments. “The sale was a good opportunity for both the buyer and seller and the timing was right for both parties.”

Havericak and Robert S. Hunter, investment specialists in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, Ottawa Hospitality Group LLC. The buyer, Akal Hotels, was also procured by Hunter and Havericak. Steven D. Weinstock, Marcus & Millichap’s Broker of Record in Illinois, assisted in closing the transaction.

Comfort Inn is located at 120 W. Stevenson Rd. and is directly off Interstate 80. The three-story hotel was built in 1995 and features a business center, fitness center, complimentary breakfast, and meeting facilities.

 

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About Marcus & Millichap (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, 2021, the company had 1,994 investment sales and financing professionals in 82 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 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.

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