Press Releases
Marcus & Millichap Announces Sale of 80-Room Candlewood Suites in North Dakota
January 07, 2025
MINOT, N.D., Jan. 8, 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 Candlewood Suites Minot, an 80-room hospitality property located in Minot, North Dakota.
Ebrahim Valliani, senior vice president, and Michael Klar, senior associate, both investment specialists in Marcus & Millichap’s Chicago Oak Brook office, exclusively marketed the property on behalf of the seller and secured the buyer. Both entities are private investors. The transaction received additional support from Allan Miller and Chris Gomes of the Miller-Gomes Hotel Team. Jon Ruzicka is Marcus & Millichap’s broker of record in North Dakota.
The Candlewood Suites Minot is an 80-room, four-story extended stay hotel at 900 37th Ave S.W., just off U.S. Route 83 with various common area amenities. The buyer group adds another property to their portfolio in the Minot market and will continue to be a leading hotel after completing extensive renovations at the property.
The Miller-Gomes Hotel Team of Marcus & Millichap has sold over 600 hotels across the nation since its inception. The team has 63 active listings across 20 states, 19 hotels under contract and 83 transactions closed in 2023.
Ebrahim Valliani, senior vice president, and Michael Klar, senior associate, both investment specialists in Marcus & Millichap’s Chicago Oak Brook office, exclusively marketed the property on behalf of the seller and secured the buyer. Both entities are private investors. The transaction received additional support from Allan Miller and Chris Gomes of the Miller-Gomes Hotel Team. Jon Ruzicka is Marcus & Millichap’s broker of record in North Dakota.
The Candlewood Suites Minot is an 80-room, four-story extended stay hotel at 900 37th Ave S.W., just off U.S. Route 83 with various common area amenities. The buyer group adds another property to their portfolio in the Minot market and will continue to be a leading hotel after completing extensive renovations at the property.
The Miller-Gomes Hotel Team of Marcus & Millichap has sold over 600 hotels across the nation since its inception. The team has 63 active listings across 20 states, 19 hotels under contract and 83 transactions closed in 2023.
# # #
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, 2024, the company had 1,712 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 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
