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