Marcus & Millichap Facilitates $11.6M Sale of Comfort Suites in North Charleston

NORTH CHARLESTON, S.C., Sept. 10, 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 Comfort Suites North Charleston-Ashley Phosphate, a 98-room hotel property located in North Charleston, South Carolina. The property sold for $11.6 million.

"We generated multiple offers through our marketing process," said Jack Davis, senior vice president investments. "We were able to uncover a non-traditional hotel user and sold the asset to a non-profit which will use the asset for veteran housing."

Davis, Chase Dewese, Joce Messinger and Eric Webster, investment specialists in Marcus & Millichap's Charleston office, had the exclusive listing to market the property on behalf of the seller.

Comfort Suites North Charleston-Ashely Phosphate is located at 2450 Prospect Drive off Interstate 26. Built in 2017, the hotel features amenities such as a fitness center, business center, indoor swimming pool and on-site convenience store. The property is less than 13 miles from downtown Charleston, with proximity to Charleston International Airport and Credit One Stadium.

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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.