Marcus & Millichap Arranges $10M Sale of Hotels in WA

Marcus & Millichap has completed the sale of dual-branded hotels, Sleep Inn and MainStay Suites, in Spokane, Washington. The property sold for $10.175 million.

“This was a rare asset to come to market as an almost brand-new hotel in an excellent location near the airport with extended-stay options,” said Jared Plamann, senior associate. “There continues to be added inventory and upscale conversions in this area, and the new owner will benefit from more development to come.”

Jared Plamann and Jake Erickson, investment specialists in Marcus & Millichap’s Minneapolis office, had the exclusive listing to market the property on behalf of the seller, H&H Hospitality Spokane LLC. Joel Deis, Broker of Record in Washington, assisted in closing the transaction. Located on 7.26 acres at 3809 S. Geiger Blvd., the property offers 87 rooms across both Sleep Inn and MainStay Suites accommodations.

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