Marcus & Millichap Inc.
01/07/2025 | Press release | Distributed by Public on 01/07/2025 16:40
Marcus & Millichap Arranges $11M Sale of Fairfield Inn & Suites in Montgomery
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Marcus & Millichap Arranges $11M Sale of Fairfield Inn & Suites in Montgomery
January 07, 2025
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MONTGOMERY, Ala., Jan. 7, 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 a 105-room Fairfield Inn & Suites in Montgomery, Alabama for $11 million.
"Our team was able to uncover an out-of-state buyer, Woodvale, through our competitive marketing process," said Jack Davis, senior vice president investments. "The buyer closed the deal less than 15 days after going under contract. This is our ninth transaction for the seller across four states."
Davis, Chase Dewese, Joce Messinger, Joseph Simpson and Eric Webster, investment specialists in Marcus & Millichap's Charleston and Charlotte Uptown offices, had the exclusive listing to market the property on behalf of the seller, Opal Hotels Group. Eddie Greenhalgh is Marcus & Millichap's broker of record for Alabama.
The property, located at 8970 Eastchase Parkway just off Interstate 85, features 105 guest rooms across three floors. Amenities include a continental breakfast, fitness center, business center, and an outdoor patio. The hotel is approximately a mile from The Shoppes at EastChase, which offers more than 85 retail stores, including national retailers such as Dillard's, Target and H&M. The property is 12 miles from downtown Montgomery.
"Our team was able to uncover an out-of-state buyer, Woodvale, through our competitive marketing process," said Jack Davis, senior vice president investments. "The buyer closed the deal less than 15 days after going under contract. This is our ninth transaction for the seller across four states."
Davis, Chase Dewese, Joce Messinger, Joseph Simpson and Eric Webster, investment specialists in Marcus & Millichap's Charleston and Charlotte Uptown offices, had the exclusive listing to market the property on behalf of the seller, Opal Hotels Group. Eddie Greenhalgh is Marcus & Millichap's broker of record for Alabama.
The property, located at 8970 Eastchase Parkway just off Interstate 85, features 105 guest rooms across three floors. Amenities include a continental breakfast, fitness center, business center, and an outdoor patio. The hotel is approximately a mile from The Shoppes at EastChase, which offers more than 85 retail stores, including national retailers such as Dillard's, Target and H&M. The property is 12 miles from downtown Montgomery.
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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.