Tuesday, March 18, 2008

Marcus & Millichap Sells Two Hotels in San Diego for $23.9M



SAN DIEGO, CA--Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of the Quality Suites and Holiday Inn Express, (photo above) totaling 202 rooms, in San Diego. The sales price of $23.8 million represents $117,821 per room.

Ben Tashakorian, a senior associate in Marcus & Millichap’s San Diego office, and Alvin Mansour, (photo at right) a senior director of the firm’s National Retail Group in San Diego, represented the seller, Mira Mesa Hotels LLC, and the buyer, JCK Hospitality LLC.

“This new owner has acquired two top-tier hotels centrally located off Interstate 15 in beautiful Mira Mesa, an exclusive neighborhood within San Diego,” says Mansour.

Located at 9880-9888 Mira Mesa Blvd., the hotels are situated directly adjacent from each other near the heavily populated business districts of Miramar, Scripps Ranch, Sorrento Mesa and Poway. The hotels are just 1.7 miles from the Miramar Air Station, a refuge for several traveling service men and their families, and 17.8 miles from San Diego’s International Airport.
The hotels boast a 2,500-square foot banquet hall, 1,500-square foot meeting room, swimming pool, whirlpool and workout room.

Contact:
Stacey Corso
Public Relations Manager
Marcus & Millichap
2999 Oak Road
Suite 210
Walnut Creek, CA 94597
Office: 925.953.1716
Mobile: 415.672.6460
Fax: 925.953.1710
http://www.marcusmillichap.com/

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