Press Releases
Marcus & Millichap Facilitates Sale of 72-Room Sleep Inn & Suites in North Dakota
November 18, 2024
BISMARCK, N.D., Nov. 18, 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 a 72-room Sleep Inn & Suites located in Bismarck, North Dakota.
“The Sleep Inn Bismarck attracted significant interest from buyers thanks to its 2012 construction and exceptional stewardship by the original development group, Northridge Hospitality,” said Joseph Ferguson, senior associate. “Their pride of ownership is evident in the property's pristine condition and strong business performance. The buyers are now positioned to capitalize on a well-placed asset with an outstanding reputation in the market.”
Ferguson, Jon Ruzicka and Reed Gizinski, investment specialists in Marcus & Millichap’s Minneapolis office, had the exclusive listing to market the property on behalf of the seller, Northridge Hospitality, and procured the buyer, Shree Hari OM1.
Sleep Inn & Suites Bismarck is situated on 1.7 acres at 1510 E. Century Ave. Built in 2012, the property features amenities such as an indoor pool, fitness center and continental breakfast. It is located just off Interstate 94 near the University of Mary and Gateway Fashion Mall.
“The Sleep Inn Bismarck attracted significant interest from buyers thanks to its 2012 construction and exceptional stewardship by the original development group, Northridge Hospitality,” said Joseph Ferguson, senior associate. “Their pride of ownership is evident in the property's pristine condition and strong business performance. The buyers are now positioned to capitalize on a well-placed asset with an outstanding reputation in the market.”
Ferguson, Jon Ruzicka and Reed Gizinski, investment specialists in Marcus & Millichap’s Minneapolis office, had the exclusive listing to market the property on behalf of the seller, Northridge Hospitality, and procured the buyer, Shree Hari OM1.
Sleep Inn & Suites Bismarck is situated on 1.7 acres at 1510 E. Century Ave. Built in 2012, the property features amenities such as an indoor pool, fitness center and continental breakfast. It is located just off Interstate 94 near the University of Mary and Gateway Fashion Mall.
# # #
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.
