Wednesday, March 23, 2011
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