ALTAMONTE SPRINGS, Fla., Sept. 28, 2009 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of a 210-room Hampton Inn (top left photo) in Altamonte Springs, a suburb of Orlando. The sales price of $10 million represents $47,619 per room.
Douglas Dial, a senior associate in the firm’s Orlando office, and Jonathan Ruprai, a hospitality investment specialist in the Denver office, represented the seller, a Georgia-based private investor. Jaimin Patel, a senior associate in the firm’s Tampa office, represented the buyer, an investment group based in Tennessee.
The property is located approximately 15 minutes from downtown Orlando at 151 North Douglas Ave., directly off Interstate 4, a major thoroughfare and primary roadway connecting Orlando to Interstate 95 on the state’s Atlantic Coast and Tampa. The property is a short distance north of State Route 436, a key artery in the Orlando metropolitan area. Approximately 103,000 vehicles per day travel through the intersection of Interstate 4 and State Route 436.
The Hampton Inn was built in 1993 on 4.55 acres and was renovated in 2006. The current franchise agreement will remain in place until December 2013.
Contact: Stacey Corso, Communications Department, (925) 953-1716
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