Marcus & Millichap Closes 70-Room Hotel Property Deal in Ohio
Marcus & Millichap has successfully brokered the sale of the Welcome Suites Extended Stay, a 70-room hotel property located in Springdale, Ohio.
“This deal was truly a collaborative effort,” said Michael Klar, Director of Investments at Marcus & Millichap. “Both the buyer and seller demonstrated professionalism and flexibility throughout the process. Even with a few delays, their cooperation allowed us to navigate the challenges and successfully close the transaction.”
The transaction was handled by Klar and Ebrahim Valliani, investment specialists in the firm’s Chicago Oak Brook office, in collaboration with Michael Glass, Marcus & Millichap’s Ohio broker of record. The team held the exclusive listing on behalf of the seller and also procured the private investor buyer. Additional support for the deal was provided by Chris Gomes and Allan Miller of the Miller-Gomes Hotel Team.
The three-story Welcome Suites Extended Stay Springdale is situated on 1.82 acres at 11645 Chesterdale Road. The property offers direct access to Interstate 275 and is located near a number of demand generators, including major employers, medical centers, universities, and regional attractions.
