Marcus & Millichap closed the sale of Holiday Inn Express & Suites Cleveland – Streetsboro, a 68-room hospitality property located in Streetsboro, OH. Alexandre Duong, a Senior Managing Director in Marcus & Millichap’s Cleveland office marketed the property on behalf of the seller and procured the buyer as well. The price was not disclosed.
Duong commented that “In conjunction with our ability to identify and articulate value and provide financing, it resulted in a smooth transaction for both parties with the hotel selling at an impressive cap rate below 5% offering attractive future ROI for buyers after execution of their new business plan”.
Holiday Inn Express & Suites Cleveland – Streetsboro is situated at 9459 OH-14 in Streetsboro which is part of Greater Cleveland area. Constructed back 1999 this hotel will continue operating as Holiday Inn Express following completion of its renovation works soon afterwards
