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 65-room Rodeway Inn & Suites located in Asheville, North Carolina. The asset sold for $5,585,000, or $85,923 per room.
“This asset sold over asking price and the transaction closed only 45 days after going under contract,” says Chase Dewese.
Dewese, in addition to Jack Davis, Josh Williams, Joce Messinger & Milin Mehta, had the exclusive listing to market the property on behalf of the seller. The buyer was also secured by the team.
The hotel is located at 9 Wedgefield Drive in Asheville, North Carolina, near Asheville Outlets. Built in 1999, it is positioned off Interstate 26, only nine miles from both The Biltmore Estate and Asheville Regional Airport.
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, 2021, the company had 1,994 investment sales and financing professionals in 82 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 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.
