Marcus & Millichap Broadcasts Sale of Nation Inn & Suites Resort in Detroit Lakes, Minnesota
DETROIT LAKES, MINNESOTA—Marcus & Millichap offered the sale of a forty five-room Nation Inn & Suites property in Detroit Lakes, Minnesota.
“This transaction displays the continued investor search recordsdata from for neatly-maintained, premium-branded hotels in Minnesota’s pressure-to leisure markets,” acknowledged Joseph Ferguson, director of investments. “Detroit Lakes remains no doubt one of Minnesota’s strongest regional lodging destinations, supported by a various combine of tourism, outdoors game, native events, healthcare and industry wander, which continues to pressure prolonged-term investor hobby within the rental.”
Ferguson, Jon Ruzicka, Reed Gizinski and Brock Banken, investment consultants in Marcus & Millichap’s Minneapolis location of job, had the contemporary list to market the property on behalf of the vendor, DL Resort Neighborhood LLC, and procured the South Dakota-based entirely purchaser.
The forty five-room Nation Inn & Suites became in-constructed 1996. The one real within the near previous renovated hotel is positioned appropriate off Highway 10 and within strolling distance of Detroit Lake, with uncover admission to to Detroit Mountain Sport Build of living, the Heartland Inform Whisk and better than 400 lakes within a 25-mile radius, positioning it come about a of the placement’s in style twelve months-spherical outdoors game and tourism destinations. The purchaser plans to proceed working the property as a Nation Inn & Suites whereas building on its acquire reputation internal the market.
