Press Releases
Marcus & Millichap Assists in Sale of North Charleston Hotel
June 04, 2024
CHARLESTON, S.C., June 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 Courtyard North Charleston, a 123-room hotel property located in Charleston, South Carolina. The property sold for $13,300,000, or $106,747 per room.
“We sold this asset to an out of state owner and closed in a reasonable timeframe,” said Jack Davis, senior vice president investments. “Charleston continues to demonstrate a strong market demand with hotel sales remaining robust despite economic variables.”
Davis, Joce Messinger and Chase Dewese, investment specialists in Marcus & Millichap’s Charleston office, procured the buyer, Baron Hospitality.
Courtyard North Charleston, built in 1999, is located at 2415 Mall Drive. The property sits on 2.5 acres off Interstate-26 with proximity to Charleston International Airport, Tanger Outlets and the Charleston Area Convention Center. The 125-room hotel spans four floors with amenities including an outdoor swimming pool, fitness center, and meeting and banquet facilities.
“We sold this asset to an out of state owner and closed in a reasonable timeframe,” said Jack Davis, senior vice president investments. “Charleston continues to demonstrate a strong market demand with hotel sales remaining robust despite economic variables.”
Davis, Joce Messinger and Chase Dewese, investment specialists in Marcus & Millichap’s Charleston office, procured the buyer, Baron Hospitality.
Courtyard North Charleston, built in 1999, is located at 2415 Mall Drive. The property sits on 2.5 acres off Interstate-26 with proximity to Charleston International Airport, Tanger Outlets and the Charleston Area Convention Center. The 125-room hotel spans four floors with amenities including an outdoor swimming pool, fitness center, and meeting and banquet facilities.
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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.
