Thursday, December 29, 2011

Marcus & Millichap facilitates sale of Americas Best Value Inn in Shelbyville, IN for $850,000



SHELBYVILLE, IND., Dec/. 29, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Americas Best Value Inn (top left photo), a 50-room hotel located in Shelbyville, Indiana, according to Bryn D. Merrey, vice president and regional manager of the firm’s Tampa office.

The asset commanded a sales price of $850,000.

Jonathan S. Ruprai (middle right photo), a hospitality specialist in Marcus & Millichap’s Tampa office and Josh Caruana (lower left photo) Indiana broker in the firm’s Indianapolis office had the exclusive listing to market the property on behalf of the Illinois-based seller, a financial institution and the buyer, a limited liability company also from Illinois. 

This sale marks the ninth bank-owned hotel that Mr. Ruprai has exclusively listed and sold this year.

Americas Best Value Inn is a two-story, 50-room interior corridor limited service hotel.  The property was built in 1997 and is located at 68 East Rampart Road directly off major arterial, Interstate 74. 

Press Contact:  Bryn D. Merrey, Vice President/Regional Manager, Tampa, (813) 387-4700

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