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Marcus & Millichap Facilitates Sale of Holiday Inn Express & Suites in Maryland

June 11, 2024

OWINGS MILLS, Md., June 11, 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 an 86-room Holiday Inn Express & Suites in Owings Mills, Maryland. The property sold for $10,150,000, or $118,023 per room. 

“We procured over 10 offers and successfully transacted with an out of state buyer,” said Jack Davis, senior vice president investments. “The hotel market continues to remain steady despite outside economic factors.” 

Davis, Gordon Allred, Joce Messinger, Karianne Cibello, Zachary Walsh and Andy Patel, investment specialists in Marcus & Millichap’s Baltimore, Charleston, Inland Empire and Palm Springs offices, had the exclusive listing to market the property on behalf of the seller, and procured the buyer. Brian Hosey, Broker of Record in Maryland, assisted in closing the transaction. 

Located at 11509 Red Run Boulevard, the Holiday Inn & Suites is situated on 5.71 acres with four floors of guest rooms. Built in 2018, the hotel features amenities including a fitness center, business center, and meeting and banquet facilities. The property is located off Interstate-795 just 20 miles outside of downtown Baltimore.  

 

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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.

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