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 four-story, 100-room Hampton Inn Gainesville in Gainesville, Florida.
“This sale was a prime example of the demand from out of area investors for positive-trending Florida markets with strong fundamentals,” said Robert Hunter, senior vice president investments. “The hotel is nearly thirty years old, but the revenue was trending in the right direction and the new supply that softened the Gainesville market in the years preceding the pandemic had been absorbed by the time we hit the market.”
Hunter, Leo Reilly, and McLean Hicklin, investment specialists in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a limited liability corporation based in North Florida. The buyer was also procured by Hunter, Reilly, and Hicklin.
Hampton Inn Gainesville is located at 4225 S.W. 40th Blvd. just off Interstate 75. The 2.6-acre property is less than two miles to the University of Florida and 3.2 miles to UF Shands Hospital. Built in 1994 and renovated in 2021, the hotel features 40 king rooms and 60 double queen rooms. Amenities include a business center, fitness center, and an outdoor pool.
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, 2022, the company had 1,904 investment sales and financing professionals in 81 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 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion. For additional information, please visit www.MarcusMillichap.com.
