Marcus & Millichap recently finalized the sale of Best Western Plus, a 68-room hotel property in Hudson, Wisconsin. The hotel is located in the Minneapolis MSA and was sold by Jon Ruzicka and Joseph Ferguson, investment specialists at Marcus & Millichap’s Minneapolis office. Todd Lindblom also assisted with closing the transaction as Broker of Record for Wisconsin.
According to Ruzicka, this was a unique opportunity to acquire an Upper Midscale hotel in the highly desirable Minneapolis market with minimal transfer PIP expectations. This marks the third time that Ruzicka and Ferguson have successfully sold this particular property.
Best Western Plus is situated at 1200 Gateway Blvd., built in 1998 with a comprehensive conversion renovation completed just last year. The three-story hotel offers guests amenities such as a pool and whirlpool, fitness center, and outdoor green space. Its convenient location off I-94 makes it easily accessible from downtown St.Paul or Minneapolis-St.Paul International Airport within just 20 minutes.
This recent transaction highlights Marcus & Millichap’s expertise in navigating successful sales within competitive markets like Minnesota’s Twin Cities region.
