DETROIT LAKES, MINNESOTA—Marcus & Millichap introduced the sale of a 45-room Nation Inn & Suites property in Detroit Lakes, Minnesota.
“This transaction displays the continued investor demand for well-maintained, premium-branded inns in Minnesota’s drive-to leisure markets,” mentioned Joseph Ferguson, director of investments. “Detroit Lakes stays one in every of Minnesota’s strongest regional lodging locations, supported by a various mixture of tourism, outside recreation, native occasions, healthcare and enterprise journey, which continues to drive long-term investor curiosity within the space.”
Ferguson, Jon Ruzicka, Reed Gizinski and Brock Banken, funding specialists in Marcus & Millichap’s Minneapolis workplace, had the unique itemizing to market the property on behalf of the vendor, DL Resort Group LLC, and procured the South Dakota-based purchaser.
The 45-room Nation Inn & Suites was in-built 1996. The just lately renovated resort is positioned simply off Freeway 10 and inside strolling distance of Detroit Lake, with entry to Detroit Mountain Recreation Space, the Heartland State Path and greater than 400 lakes inside a 25-mile radius, positioning it close to a number of the area’s well-liked year-round outside recreation and tourism locations. The customer plans to proceed working the property as a Nation Inn & Suites whereas constructing on its sturdy repute throughout the market.
