Marcus & Millichap, a leading real estate investment firm, recently closed the sale of a Comfort Suites hotel property in Portage, Wisconsin. The three-story property boasts 83 rooms and was sold for $4.1 million.
According to Jared Plamann, senior associate at Marcus & Millichap, the company was honored to have been selected as the exclusive marketing agent for this property by its receiver Cascade Hospitality. In just a short period of time on the market, there was significant interest from potential buyers. Ultimately KAS Hospitality LLC emerged as the buyer and completed all necessary due diligence within an expedited timeline. This acquisition is expected to be a valuable addition to their growing portfolio and they plan on making substantial upgrades to enhance its value.
The listing agents for this transaction were Jake Erickson and Plamann from Marcus & Millichap’s Minneapolis office who worked closely with seller Cascade Hospitality LLC in securing KAS Hospitality LLC as the buyer.Todd Lindblom served as broker of record in Wisconsin for Marcus & Millichap during this deal.
Situated at 5780 Kinney Road,the Comfort Suites spans over 78,939 square feetand offers various amenities such as fitness center access,a business center,and an indoor swimming pool.This successful transaction further solidifies Marcus &Millichaps positionas oneofthe top brokerage firmsinthe countryforcommercial real estate deals.
