Marcus & Millichap Facilitates Sale of 68-Room Best Western Plus in Wisconsin

HUDSON, Wis., Sept. 3, 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 Best Western Plus, a 68-room hotel property located in Hudson, Wisconsin in the Minneapolis MSA.

"This property presented a rare opportunity to acquire an Upper Midscale hotel in the Minneapolis MSA with minimal transfer PIP expectations," said Jon Ruzicka, first vice president of investments. "The local owner looks forward to helping this hotel reach its full potential."

Ruzicka and Joseph Ferguson, investment specialists in Marcus & Millichap's Minneapolis office, listed the property on behalf of the seller. Todd Lindblom, Broker of Record in Wisconsin, assisted in closing the transaction. This transaction marks the third time the Ruzicka/Ferguson team has sold this hotel.

Best Western Plus, located at 1200 Gateway Blvd., was built in 1998 and underwent a comprehensive conversion renovation in 2019. The three-story hotel features 68 guest rooms and amenities including a pool and whirlpool, a fitness center and outdoor green space. The property is situated off I-94, just 20 minutes from downtown St. Paul and the Minneapolis-St. Paul International Airport.

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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.