Marcus & Millichap Arranges $10.175M Sale of Dual-Branded Hotels in Washington

SPOKANE, Wash., Sept. 5, 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 dual-branded hotels, Sleep Inn and MainStay Suites in Spokane, Washington. The property sold for $10,175,000.

"This was a rare asset to come to market as an almost brand-new hotel in an excellent location near the airport with extended-stay options," said Jared Plamann, senior associate. "There continues to be added inventory and upscale conversions in this area, and the new owner will benefit from more development to come."

Plamann, Jake Erickson, Jon Ruzicka and Joseph Ferguson, investment specialists in Marcus & Millichap's Minneapolis office, had the exclusive listing to market the property on behalf of the seller, H&H Hospitality Spokane LLC. Joel Deis, Broker of Record in Washington, assisted in closing the transaction.

Located on 7.26 acres at 3809 S. Geiger Blvd., the property offers 87 rooms across both Sleep Inn and MainStay Suites accommodations. Built in 2019, the three-story hotel is situated off I-90 and Highway 395, adjacent to Spokane 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.