Wednesday, March 23, 2011

Marcus & Millichap Sells 131-Room Hotel in Tucson, AZ for $1 Million


 TUCSON, AZ,  Mar. 23, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of the Executive Inn & Suites (top left photo), a 131-room hotel located in Tucson, Ariz., according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

The asset commanded a sales price of $1,000,000.

Jonathan S. Ruprai, a hospitality investment specialist in Marcus & Millichap’s Tampa office, along with Aseem Tandon, a hospitality investment specialist in the firm’s Ontario office, had the exclusive listing to market the property on behalf of the seller, a financial institution. 

The buyer was secured and represented by Ruprai and Tandon.  David Guido, broker, assisted in closing this transaction.

Executive Inn & Suites is an interior corridor, full service hotel, built in 1960 and located at 333 West Drachman Street.

Press Contact:  Bryn D. Merrey, Regional Manager, Tampa
(813) 387-4700

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