Marcus & Millichap Facilitates Sale of 77-Room Clarion Pointe Hotel in Charleston

CHARLESTON, S.C., Oct. 15, 2024 - 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 Clarion Pointe Charleston-West Ashley, a 77-room Choice Hotels-branded property located in Charleston, S.C.

"Through a competitive bidding process, we were able to source an out-of-state 1031 exchange buyer," said Jack Davis, senior vice president investments. "This is our second time transacting with this buyer, underscoring the strength of our relationship and the appeal of this unique asset."

Davis, Chase Dewese, Joce Messinger and Joseph Simpson, investment specialists in Marcus & Millichap's Charleston and Charlotte Uptown offices, had the exclusive listing to market the property on behalf of the seller. Robert Hunter and McLean Hicklin, investment specialists in the firm's Fort Lauderdale and Columbia offices, procured the buyer.

Clarion Pointe Charleston West-Ashley is located along US-Highway 17 at 2455 Savannah Hwy. Built in 2005, the hotel features 77 rooms across four floors, with amenities including an indoor pool, fitness center and breakfast bar.

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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, 2023, the company had 1,783 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 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.