Press Releases
Marcus & Millichap Arranges the Sale of a 60-Room Full-Service Hotel
November 30, 2023
MOBRIDGE, SD, December 5, 2023 – 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 the 60-room Wrangler Hotel and Windjammer restaurant located in Mobridge, SD, according to Todd E. Lindblom, regional manager of the firm’s Minneapolis office.
Joseph Ferguson, Jon Ruzicka, Jake M. Erickson, and Jared Plamann, investment specialists in Marcus & Millichap’s Minneapolis office, marketed the property on behalf of the Seller. The Buyer was procured by the team of Ferguson/Ruzicka/Erickson/Plamann as well.
The Wrangler Hotel is located at 820 W Grand Crossing, Mobridge, SD 57601. Per Ferguson, “This property is a focal point of the community, and the business continues to grow year over year. The new owners are focused on maintaining and improving the outstanding legacy of the previous owner.” This sale marks the 74th hotel transaction for the team of Ruzicka, Erickson, Plamann and Ferguson out of Marcus & Millichap’s Minneapolis office and the 14th thus far in 2023.
Joseph Ferguson, Jon Ruzicka, Jake M. Erickson, and Jared Plamann, investment specialists in Marcus & Millichap’s Minneapolis office, marketed the property on behalf of the Seller. The Buyer was procured by the team of Ferguson/Ruzicka/Erickson/Plamann as well.
The Wrangler Hotel is located at 820 W Grand Crossing, Mobridge, SD 57601. Per Ferguson, “This property is a focal point of the community, and the business continues to grow year over year. The new owners are focused on maintaining and improving the outstanding legacy of the previous owner.” This sale marks the 74th hotel transaction for the team of Ruzicka, Erickson, Plamann and Ferguson out of Marcus & Millichap’s Minneapolis office and the 14th thus far in 2023.
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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, 2023, the company had 1,783 investment sales and financing professionals in over 80 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 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.
