Marcus & Millichap: Arranges the sale of a 70-room hospitality property

ASHLAND, WIOctober 25, 2022 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Super 8 Ashland, a 70-room hospitality property located in Ashland, WI, according to Todd E. Lindblom, regional manager of the firm’s Minneapolis office. The asset sold for $3,900,000.

Jon Ruzicka, Jake Erickson, Jared Plamann and Joseph Ferguson, investment specialists in Marcus & Millichap’s Minneapolis office, sold the property on behalf of the sellerThe buyer was procured by Ruzicka, Erickson, Plamann and Ferguson as well. Todd Lindblom, Regional Manager and Broker, assisted in closing this transaction.

Super 8 Ashland is located at 1610 Lake Shore Dr W in Ashland, WI. and features 70 guest rooms. Per Ruzicka, “This acquisition offered the buyer an opportunity to acquire another property with geographically ideal proximity to their other holdings.” This sale marks the 58th hotel transaction for the team of Ruzicka/Erickson/Plamann/Ferguson out of Marcus & Millichap’s Minneapolis office.