Press Releases
Marcus & Millichap Brokers Sale of Hotel Portfolio in Upstate New York
January 07, 2025
NEW YORK, Jan. 7, 2025 – 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 two-property hotel portfolio in Upstate New York.
"I am pleased to have successfully transacted this nuanced deal," said Jerry Swon. "Both hotels will be renovated, with the Staybridge continuing to operate under the IHG flag, while the former Holiday Inn will be reopened and operated independently for the time being. It was a pleasure working with our client and the buyer, with whom I have a long-standing relationship. I know this will be another successful endeavor for the new ownership."
Swon and Eric Anton, investment specialists in Marcus & Millichap’s Manhattan office, exclusively marketed the property on behalf of the private seller, with Swon procuring the buyer.
The portfolio includes the 197-room former Holiday Inn Syracuse Liverpool at 441 Electronics Parkway and the 123-room Staybridge Suites Syracuse Liverpool at 439 Electronics Parkway. Both properties are adjacent to Interstate 90, with direct access to Syracuse Hancock International Airport and nearby demand drivers such as Syracuse University, NBT Bank Stadium, and the Destiny USA shopping and entertainment complex. Hotel amenities include indoor pools, business centers, fitness centers, and complimentary airport shuttles.
"I am pleased to have successfully transacted this nuanced deal," said Jerry Swon. "Both hotels will be renovated, with the Staybridge continuing to operate under the IHG flag, while the former Holiday Inn will be reopened and operated independently for the time being. It was a pleasure working with our client and the buyer, with whom I have a long-standing relationship. I know this will be another successful endeavor for the new ownership."
Swon and Eric Anton, investment specialists in Marcus & Millichap’s Manhattan office, exclusively marketed the property on behalf of the private seller, with Swon procuring the buyer.
The portfolio includes the 197-room former Holiday Inn Syracuse Liverpool at 441 Electronics Parkway and the 123-room Staybridge Suites Syracuse Liverpool at 439 Electronics Parkway. Both properties are adjacent to Interstate 90, with direct access to Syracuse Hancock International Airport and nearby demand drivers such as Syracuse University, NBT Bank Stadium, and the Destiny USA shopping and entertainment complex. Hotel amenities include indoor pools, business centers, fitness centers, and complimentary airport shuttles.
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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, 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.
