Press Releases
Marcus & Millichap Arranges the Sale of a 108-Room Hospitality Property in Minnesota
March 04, 2024
WOODBURY, MN, March 4, 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 La Quinta Inn & Suites St. Paul-Woodbury, a 108-room hospitality property located in Woodbury, MN, according to Todd E. Lindblom, regional manager of the firm’s Minneapolis office.
Jon Ruzicka, Jared Plamann, Jake Erickson and Joseph Ferguson, investment specialists in Marcus & Millichap’s Minneapolis office, diligently marketed the property on behalf of the seller. Additionally, the buyer was procured through the efforts of Ruzicka, Plamann, Erickson, Ferguson as well.
La Quinta Inn & Suites St. Paul-Woodbury is located at 700 Bielenberg Drive in Woodbury, MN. Per Ruzicka, “This investment presented the seldom available opportunity to acquire a recently built, upper-midscale property in a highly desirable Minneapolis/St. Paul suburb.” This sale marks the 80th hotel transaction for the team of Ruzicka, Plamann, Erickson and Ferguson out of Marcus & Millichap’s Minneapolis office.
Jon Ruzicka, Jared Plamann, Jake Erickson and Joseph Ferguson, investment specialists in Marcus & Millichap’s Minneapolis office, diligently marketed the property on behalf of the seller. Additionally, the buyer was procured through the efforts of Ruzicka, Plamann, Erickson, Ferguson as well.
La Quinta Inn & Suites St. Paul-Woodbury is located at 700 Bielenberg Drive in Woodbury, MN. Per Ruzicka, “This investment presented the seldom available opportunity to acquire a recently built, upper-midscale property in a highly desirable Minneapolis/St. Paul suburb.” This sale marks the 80th hotel transaction for the team of Ruzicka, Plamann, Erickson and Ferguson out of Marcus & Millichap’s Minneapolis office.
# # #
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.
