DESTIN, Fla., May 9, 2014 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Sleep Inn, a 76-room limited service hotel located in Destin, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office
Jonathan S. Ruprai, a senior associate and a director of the firm’s national hospitality group in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the Florida-based seller, a limited liability company.
The Sleep Inn is located at 10775 Emerald Coast Parkway in Destin, Fla. The hotelwas constructed in 1992 and went through a full renovation in 2012.
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About Marcus & Millichap (NYSE: MMI)
With over 1,300 investment professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 6,600 transactions in 2013 with a value of approximately $24 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com