Press Releases
Marcus & Millichap Arranges Sale of 75-Room MainStay Suites in Minot, North Dakota
November 13, 2025
MINOT, N.D., Nov. 13, 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 75-room MainStay Suites hotel property in Minot, North Dakota.
“This was one of several transactions I’ve had the opportunity to complete in a market where many deals don’t reach the finish line,” said Jake Erickson, senior director investments. “In this case, having an experienced brokerage team, a responsive title company, and a flexible lender made all the difference. With approximately $1 million in annual revenue and strong fundamentals, the property is well-positioned for a full renovation that will elevate the guest experience and contribute to the vitality of the surrounding community
Jake Erickson, Jared Plamann and Brock Banken, investment specialists in Marcus & Millichap’s Minneapolis office, in association with Jon Ruzicka, Marcus & Millichap’s North Dakota broker of record, had the exclusive listing to market the property on behalf of the seller, Minot Hospitality Partners, LLC. Erickson and Plamann procured the buyer, Astro Hospitality, LLC.
Located at 1212 31st Ave. SW, the MainStay Suites hotel includes 75 all-kitchenette suites across 39,918 square feet. Built in 2011, the hotel sits on 1.69 acres adjacent to the 76-store Dakota Square Mall.
“This was one of several transactions I’ve had the opportunity to complete in a market where many deals don’t reach the finish line,” said Jake Erickson, senior director investments. “In this case, having an experienced brokerage team, a responsive title company, and a flexible lender made all the difference. With approximately $1 million in annual revenue and strong fundamentals, the property is well-positioned for a full renovation that will elevate the guest experience and contribute to the vitality of the surrounding community
Jake Erickson, Jared Plamann and Brock Banken, investment specialists in Marcus & Millichap’s Minneapolis office, in association with Jon Ruzicka, Marcus & Millichap’s North Dakota broker of record, had the exclusive listing to market the property on behalf of the seller, Minot Hospitality Partners, LLC. Erickson and Plamann procured the buyer, Astro Hospitality, LLC.
Located at 1212 31st Ave. SW, the MainStay Suites hotel includes 75 all-kitchenette suites across 39,918 square feet. Built in 2011, the hotel sits on 1.69 acres adjacent to the 76-store Dakota Square Mall.
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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.
