Saturday, August 1, 2015

$11.3 Million Hampton Inn & Suites Closes in Duncan, SC

Duncan Inn & Suites, 108 Spartangreen Boulevard, Duncan, SC

David Greenberg
DUNCAN, SC – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, is pleased to announce the sale of the 133-room Hampton Inn & Suites Greenville/Spartanburg located at 108 Spartangreen Boulevard. The sales price was $11,325,000 which equates to $85,150 per unit.

            The listing agents were David Greenberg, vice president investments, and Robert Hunter, senior associate, both of the firm’s Fort Lauderdale office. Greenberg and Hunter also secured the buyer. Raj Ravi is Marcus & Millichap's broker of record in South Carolina.

            “Greenville-Spartanburg, South Carolina is a high-barrier-to-entry but growing market and the Hampton Inn offers an opportunity for maximized revenues,” says Greenberg.

The property is a five-story, limited service hotel with 38 oversized suites and high visibility to commuters along Interstate 85. It is located about four miles from the newly constructed Tyger River Park, a $17 million sports complex that has hosted as many as 7,000 out-of-town visitors per event, and about five miles from the only BMW manufacturing plant in the United States. 

Robert S. Hunter
Spartanburg is also home to the world headquarters of Denny's restaurant chain.

             “The hotel is located roughly 10 miles from Downtown Spartanburg and approximately 15 miles from Downtown Greenville,” says Hunter.  “Local legislators have done an excellent job incentivizing foreign investment in Upstate South Carolina.”

With an industry-leading hospitality team in more than 40 markets nationally, this marks the 97th hotel sold by the National Hospitality Group in 2015.

For a complete copy of the company’s news release, please contact:

Gina Relva
Public Relations Manager

(925) 953-1716

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