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 74-room Holiday Inn Express located in Christiansburg, Virginia. The property sold for an undisclosed price.
Chase Dewese, Jack Davis and Eric Webster, investment specialists with the DDM Hotels Group of Marcus & Millichap, arranged the sale for the seller, Milestone Development. Brian Hosey assisted in the transaction as Virginia broker of record.
“We were able to plug in a buyer who we had an existing relationship with and was looking to deploy capital in the region where they had boots on the ground,” says Dewese. “The seller delivered a well-maintained asset and both parties walked away pleased with the result.”
The subject property is located at 2725 Roanoke Avenue SW in Christiansburg. Built in 2002 on 1.79 acres of land, the hotel is positioned in the Interstate 81 corridor, near Virginia Tech.
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.
