Press Releases
Marcus & Millichap Brokers Sale of Candlewood Suites in Miami Lakes
October 31, 2025
MIAMI LAKES, Fla., Oct. 31, 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 Candlewood Suites, a 94-room hotel in Miami Lakes, Florida. The property reopened under the Candlewood Suites flag in mid-December 2024 following its conversion from a TownePlace Suites.
“Buyer valuations relied almost entirely on projections of future revenue and net operating income following a brand conversion and renovation,” said Robert Hunter, senior managing director investments in Marcus & Millichap’s Fort Lauderdale office. “The favorable result of the competitive process reflects the market’s confidence in the future of hospitality in Miami-Dade County and Southeast Florida.”
Hunter, along with Marcus & Millichap’s Leo Reilly and Jonathan De La Rosa represented the private-party seller. The buyer, a local developer, was procured by Hunter and Reilly.
The three-story hotel is at 8079 NW 154th St. on a 2.01-acre site just off Interstate 75 and the Palmetto Expressway. Built in 1999 and fully renovated in 2024, the property offers all-suite accommodations with kitchens, complimentary breakfast, a business center, fitness facility, outdoor pool and convenience store.
The location provides convenient access to major employers and destinations, including Miami Lakes Research & Industrial Park, Amazon’s regional distribution center, Palmetto General Hospital, Boeing Distribution Services and Miami International Airport.
“Buyer valuations relied almost entirely on projections of future revenue and net operating income following a brand conversion and renovation,” said Robert Hunter, senior managing director investments in Marcus & Millichap’s Fort Lauderdale office. “The favorable result of the competitive process reflects the market’s confidence in the future of hospitality in Miami-Dade County and Southeast Florida.”
Hunter, along with Marcus & Millichap’s Leo Reilly and Jonathan De La Rosa represented the private-party seller. The buyer, a local developer, was procured by Hunter and Reilly.
The three-story hotel is at 8079 NW 154th St. on a 2.01-acre site just off Interstate 75 and the Palmetto Expressway. Built in 1999 and fully renovated in 2024, the property offers all-suite accommodations with kitchens, complimentary breakfast, a business center, fitness facility, outdoor pool and convenience store.
The location provides convenient access to major employers and destinations, including Miami Lakes Research & Industrial Park, Amazon’s regional distribution center, Palmetto General Hospital, Boeing Distribution Services and Miami International Airport.
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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.
