SOUTH CAROLINA—Marcus & Millichap announced the sale of two Country Inn & Suites properties in Orangeburg and Summerville, South Carolina. The assets collectively sold for $14,500,000.
“These properties were sold as a portfolio at full asking price,” said Jack Davis, senior vice president, investments. “The buyers plan to convert these properties and complete an extensive renovation.”
Davis, Joce Messinger, Chase Dewese, Josh Tammen, and Robert Hunter—investment specialists in Marcus & Millichap’s Charleston, Charlotte Uptown, Phoenix, and Fort Lauderdale offices—had the exclusive listing to market the property on behalf of the seller and procured the buyer.
The 81-room Orangeburg property has an indoor swimming pool, hot tub, fitness center, and meeting space. Built in 2007, it is situated off Interstate 26 near educational institutions and the Regional Medical Center of Orangeburg. The Summerville property is an 84-room, four-story hotel with amenities including an outdoor swimming pool and fitness center. Built in 2004, it is also positioned along Interstate 26, near demand generators such as Boeing, Volvo, and Charleston Southern University, and its located 30 minutes from Downtown Charleston.
