Tuesday, September 25, 2018

86-Room Tampa Hampton Inn Purchased for $12.6 Million



Hampton Inn Tampa-Airport North, Tampa, FL

TAMPA, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of the five-story, 86-room Hampton Inn Tampa-Airport North, according to Ari Ravi, regional manager of the firm’s Tampa office. The hotel sold for $12.6 million, which equates to $146,512 per room.

Jonathan Ruprai
“There is a healthy appetite for upper-midscale hotels in Tampa,” says Jonathan Ruprai, senior director of Marcus & Millichap’s National Hospitality Group.
“Our marketing campaign highlighted this asset’s premium brand, market and location and we generated a remarkable amount of activity, which led to multiple offers in a short amount of time.
" The preeminent interested party, a Canadian-based investment group, seized the opportunity to acquire the Hampton Inn by moving quickly and offering an attractive price with strong terms, which ultimately positioned them to be the winning bidder.”
Ruprai represented the seller and procured the buyer. The hotel is situated seven miles from Tampa International Airport and surrounded by more than 6 million square feet of office space in the North Tampa submarket.
The Hampton Inn was constructed in 2001, and recently went through the Forever Young Initiative renovation on the interior.



 CONTACT:


Whitney Davis
Marketing Coordinator
Marcus & Millichap
4030 W. Boy Scout Boulevard
Suite 850
Tampa, FL 33607
(813) 387-4700 main
(813) 387-4743 direct



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