Press Releases
Marcus & Millichap Arranges Sale of 164-Room Radisson RED Hotel in Minneapolis
October 27, 2026
MINNEAPOLIS, Oct. 27, 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 Radisson RED, a 164-room, contemporary lifestyle hotel in Minneapolis' Mill District.
“Downtown Minneapolis continues to face challenges, but its corporate base, major sporting events and convention business provide an established foundation of hotel demand,” said Joseph Ferguson, director investments. “The buyer recognized an opportunity to build on Radisson RED’s distinctive character and location near U.S. Bank Stadium, bringing local market knowledge and hands-on operations to the property’s next chapter.”
Ferguson, Jon Ruzicka, Reed Gizinski and Brock Banken, investment specialists in Marcus & Millichap’s Minneapolis office, marketed the property on behalf of the seller, Choice Hotels International, INC. Ferguson procured the buyer, Minneapolis Hotel Ventures.
The hotel is situated on 1.5 acres at 609 S. Third St., two blocks from U.S. Bank Stadium and approximately 0.2 miles from the light rail station, providing direct access to Minneapolis-St. Paul International Airport. Built in 2016 as the first Radisson RED in the United States, the hotel features OUI Bar + Kitchen, event space and a fitness center, placing guests within walking distance of The Armory, the Mississippi River waterfront and downtown Minneapolis.
“Downtown Minneapolis continues to face challenges, but its corporate base, major sporting events and convention business provide an established foundation of hotel demand,” said Joseph Ferguson, director investments. “The buyer recognized an opportunity to build on Radisson RED’s distinctive character and location near U.S. Bank Stadium, bringing local market knowledge and hands-on operations to the property’s next chapter.”
Ferguson, Jon Ruzicka, Reed Gizinski and Brock Banken, investment specialists in Marcus & Millichap’s Minneapolis office, marketed the property on behalf of the seller, Choice Hotels International, INC. Ferguson procured the buyer, Minneapolis Hotel Ventures.
The hotel is situated on 1.5 acres at 609 S. Third St., two blocks from U.S. Bank Stadium and approximately 0.2 miles from the light rail station, providing direct access to Minneapolis-St. Paul International Airport. Built in 2016 as the first Radisson RED in the United States, the hotel features OUI Bar + Kitchen, event space and a fitness center, placing guests within walking distance of The Armory, the Mississippi River waterfront and downtown Minneapolis.
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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.
