LAFAYETTE, LA, Sept. 9, 2010 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of the former Quality Inn, a 105-room hospitality property located in Lafayette, Louisiana, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.
The asset commanded a sales price of $1,540,000.
Jaimin P Patel, (top right photo) senior associate and Jonathan S. Ruprai, investment specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a financial institution based out of Utah.
William Hoffpauir, Broker, assisted in closing this transaction.
The former Quality Inn is a three-story, 105-room exterior corridor hotel built in 1993 and located at 2216 Northeast Evangeline Thruway.
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The asset commanded a sales price of $1,267,500.
Dom Boulette and James Medefind, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the Florida-based seller, a developer.
The buyer, a limited liability company also based out of Florida, was secured and represented by Gabriel Britti, an investment specialist in the firm’s Miami office.
“The property was placed under contract within two weeks of listing and closed 14 days thereafter. The transaction did not include any form of financing as it was an ‘all cash’ deal, says Boulette.
Goodyear Tire was built in 2006 and is located at 5202 East State Road 64.
Press Contact: Bryn D. Merrey, Regional Manager, Tampa, (813) 387-4700
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