Marcus & Millichap recently finalized the sale of Best Western Premier Nicollet Inn, a 131-key hospitality property located in Burnsville, MN within the Twin Cities metro area. The asset was sold for $8,650,000. Jake M. Erickson, Joseph Ferguson, Jared Plamann and Jon Ruzicka of Marcus & Millichap’s Minneapolis office and National Hospitality Group represented the seller – a limited liability company – in marketing this property to potential buyers. A fund manager ultimately purchased it after being secured by Erickson et al..
Best Western Premier Nicollet Inn is situated at 14201 Nicollet Ave in Burnsville and offers 131 keys as well as full-service restaurant facilities. As of year-end 2022 its occupancy rate stood at 42.3% with an average daily rate (ADR) of $119.62 resulting in RevPAR reaching $5060 for that period .
