Tuesday, August 23, 2011

$865,000 Buys a 103-Room Hotel in Lamar, CO



 LAMAR, CO – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of the Best Western (top left photo), a 103-room hotel located in Lamar, Colorado, according to Bryn D. Merrey, Vice President/Regional Manager of the firm’s Tampa office. The asset commanded a sales price of $865,000.

Jonathan S. Ruprai, a hospitality specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a financial institution.  The buyer, a limited liability company was secured and represented by Ruprai.

 Michael Hoffman (lower right photo), broker of record for Marcus & Millichap in Colorado, assisted in the transaction.

Built in 1975, the property is located at 1301 North Main Street.  This 103-room interior/exterior corridor, full-service hotel is located in the heart of Lamar, Colorado.  There are five offices located inside the hotel near the front entrance and currently, only one is rented.

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

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