Marcus & Millichap Inc.
01/09/2025 | Press release | Distributed by Public on 01/10/2025 15:17
Marcus & Millichap Brokers $4.1M Sale of Comfort Suites in Portage, Wisconsin
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Marcus & Millichap Brokers $4.1M Sale of Comfort Suites in Portage, Wisconsin
January 09, 2025
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PORTAGE, Wis., Jan. 9, 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 an 83-room Comfort Suites hotel property in Portage, Wisconsin. The property sold for $4.1 million.
"We were proud to be exclusively chosen to market the property on behalf of the receiver of the asset, Cascade Hospitality, and received significant interest during a short marketing period," said Jared Plamann, senior associate. "The buyer ultimately selected was highly capable and completed all due diligence in a compressed timeline. The property is a strong addition to their growing portfolio, and the hotel will undergo substantial upgrades under their ownership."
Plamann and Jake Erickson, investment specialists in Marcus & Millichap's Minneapolis office, had the exclusive listing to market the property on behalf of the seller, Cascade Hospitality LLC, and procured the buyer, KAS Hospitality LLC. Todd Lindblom is Marcus & Millichap's broker of record in Wisconsin.
Located at 5780 Kinney Road, the 78,939-square-foot Comfort Suites opened in 1998. The property is situated on 6.35 acres off Interstate 90, receiving visibility from more than 43,000 vehicles per day. The three-story hotel features amenities including a fitness center, indoor swimming pool, business center and complimentary breakfast.
"We were proud to be exclusively chosen to market the property on behalf of the receiver of the asset, Cascade Hospitality, and received significant interest during a short marketing period," said Jared Plamann, senior associate. "The buyer ultimately selected was highly capable and completed all due diligence in a compressed timeline. The property is a strong addition to their growing portfolio, and the hotel will undergo substantial upgrades under their ownership."
Plamann and Jake Erickson, investment specialists in Marcus & Millichap's Minneapolis office, had the exclusive listing to market the property on behalf of the seller, Cascade Hospitality LLC, and procured the buyer, KAS Hospitality LLC. Todd Lindblom is Marcus & Millichap's broker of record in Wisconsin.
Located at 5780 Kinney Road, the 78,939-square-foot Comfort Suites opened in 1998. The property is situated on 6.35 acres off Interstate 90, receiving visibility from more than 43,000 vehicles per day. The three-story hotel features amenities including a fitness center, indoor swimming pool, business center and complimentary breakfast.
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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.