Marcus & Millichap Inc.
11/26/2024 | Press release | Distributed by Public on 11/26/2024 17:12
Marcus & Millichap Arranges The Sale Of A 124-Room Hospitality Property in North Dakota
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Marcus & Millichap Arranges The Sale Of A 124-Room Hospitality Property in North Dakota
November 26, 2024
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DICKINSON, ND, November 13, 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 Suburban Studios Dickinson, a 124-room hospitality property located in Dickinson, North Dakota, according to Adam Lewis, regional manager of the firm's Denver office.
Huberth Marak, associate in Marcus & Millichap's Denver office, had the exclusive listing to represent the seller, an out-of-state private investor, and also procured he in-state private investor. Chris Gomes, executive managing director of the Dallas and Houston offices; Skyler Cooper, senior vice president of the Dallas and Houston offices; and Allan Miller, senior managing director in Marcus & Millichap's Austin and San Antonio offices, were listed as supporting brokers on the deal. Jon Ruzicka, first vice president investments and the firm's broker of record in North Dakota, assisted in facilitating the closing of this transaction.
Suburban Studios Dickinson is a 124-room, four-story hotel located at 3233 Legend Drive, Dickinson, North Dakota, offering extended stay accommodations. The property is highly accessible and easily visible from Interstate 94. Various common area amenities at the property include a business center, on-site guest laundry, and vending machines.
The Miller-Gomes Hotel Team of Marcus & Millichap has sold over 600 hotels across the nation since its inception. The team currently has 72 active listings across 20 states, 21 hotels under contract, and closed 83 transactions in 2023.
Huberth Marak, associate in Marcus & Millichap's Denver office, had the exclusive listing to represent the seller, an out-of-state private investor, and also procured he in-state private investor. Chris Gomes, executive managing director of the Dallas and Houston offices; Skyler Cooper, senior vice president of the Dallas and Houston offices; and Allan Miller, senior managing director in Marcus & Millichap's Austin and San Antonio offices, were listed as supporting brokers on the deal. Jon Ruzicka, first vice president investments and the firm's broker of record in North Dakota, assisted in facilitating the closing of this transaction.
Suburban Studios Dickinson is a 124-room, four-story hotel located at 3233 Legend Drive, Dickinson, North Dakota, offering extended stay accommodations. The property is highly accessible and easily visible from Interstate 94. Various common area amenities at the property include a business center, on-site guest laundry, and vending machines.
The Miller-Gomes Hotel Team of Marcus & Millichap has sold over 600 hotels across the nation since its inception. The team currently has 72 active listings across 20 states, 21 hotels under contract, and closed 83 transactions in 2023.
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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.