Press Releases
Marcus & Millichap Arranges Sale of 117-Room Former Hampton Inn in Lakeville, Minn.
April 14, 2026
LAKEVILLE, Minn., April 14, 2026 – 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 117-room Former Hampton Inn hotel in Lakeville, Minnesota.
“To say this hotel had been in the spotlight the past few months is an understatement,” said Jon Ruzicka, senior managing director investments. “It’s a beautiful hotel with a new owner in place that aims to recreate the hotel’s image and bring it back to its full operational potential.”
Ruzicka, Joseph Ferguson, Reed Gizinski and Brock Banken, investment specialists in Marcus & Millichap’s Minneapolis office, facilitated the sale.
Built in 2019, the former hotel property is situated on 3.17 acres at 20851 Keokuk Ave.
“To say this hotel had been in the spotlight the past few months is an understatement,” said Jon Ruzicka, senior managing director investments. “It’s a beautiful hotel with a new owner in place that aims to recreate the hotel’s image and bring it back to its full operational potential.”
Ruzicka, Joseph Ferguson, Reed Gizinski and Brock Banken, investment specialists in Marcus & Millichap’s Minneapolis office, facilitated the sale.
Built in 2019, the former hotel property is situated on 3.17 acres at 20851 Keokuk Ave.
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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, 2025, the company had 1,808 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 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
