Press Releases
Marcus & Millichap Announces Sale of Sleep Inn & Suites at Concord Mills
January 19, 2024
CONCORD, N.C., January 19, 2024 – 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 Sleep Inn & Suites at Concord Mills, a 116-room hotel located in Concord, North Carolina. The property sold for an undisclosed price.
Jack Davis, Chase Dewese, Milin Mehta and Joce Messinger, investment specialists with the DDM Hotel Group of Marcus & Millichap, had the exclusive listing to market the property on behalf of the seller, in addition to procuring the buyer.
“This hotel was sold as part of a portfolio to a local 1031 exchange buyer,” says Davis.
Sleep Inn & Suites at Concord Mills is located at 7821 Gateway Lane in Concord, a rapidly growing submarket of Charlotte. Built in 2000 on two acres of land, the hotel is positioned conveniently off of Interstate 85, less than two miles from the Charlotte Motor Speedway.
Jack Davis, Chase Dewese, Milin Mehta and Joce Messinger, investment specialists with the DDM Hotel Group of Marcus & Millichap, had the exclusive listing to market the property on behalf of the seller, in addition to procuring the buyer.
“This hotel was sold as part of a portfolio to a local 1031 exchange buyer,” says Davis.
Sleep Inn & Suites at Concord Mills is located at 7821 Gateway Lane in Concord, a rapidly growing submarket of Charlotte. Built in 2000 on two acres of land, the hotel is positioned conveniently off of Interstate 85, less than two miles from the Charlotte Motor Speedway.
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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.
