Marcus & Millichap has facilitated the sale of the Best Western Plus Hudson I-94, a 68-room hotel property located in Hudson, WI, in the Minneapolis MSA.
“This property presented a rare opportunity to acquire an upper-midscale hotel in the Minneapolis MSA with minimal transfer PIP expectations,” said Jon Ruzicka, first VP, investments, Marcus & Millichap. “The local owner looks forward to helping this hotel reach its full potential.”
Ruzicka and Joseph Ferguson, investment specialists in Marcus & Millichap’s Minneapolis office, listed the property on behalf of the seller. Todd Lindblom, broker of record in Wisconsin, assisted in closing the transaction. This transaction marks the third time the Ruzicka/Ferguson team has sold this hotel.
The hotel was built in 1998 and underwent a comprehensive conversion renovation in 2019. The three-story hotel features 68 guestrooms and amenities including a pool and whirlpool, a fitness center and outdoor green space. The property is located 20 miles from downtown St. Paul and 30 miles from Minneapolis-St. Paul International Airport.
The post Marcus & Millichap arranges sale of Best Western Plus in Wisconsin appeared first on hotelbusiness.com.
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