SPRINGDALE, Ohio—Marcus & Millichap announced the sale of a 70-room Welcome Suites Extended Stay hotel property in Springdale, Ohio.
“This deal was truly a collaborative effort,” said Michael Klar, director, investments. “Both the buyer and seller demonstrated professionalism and flexibility throughout the process. Even with a few delays, their cooperation allowed us to navigate the challenges and successfully close the transaction.”
Klar and Ebrahim Valliani, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, in association with Michael Glass, Marcus & Millichap’s Ohio broker of record, had the exclusive listing to market the property on behalf of the seller and procured the buyer, both private investors. The transaction received additional support from Chris Gomes and Allan Miller of the Miller-Gomes Hotel Team.
The three-story Welcome Suites Extended Stay Springdale is situated on 1.82 acres. Built in 1988, the hotel includes kitchenettes in each suite, along with on-site guest laundry and vending amenities. The property offers direct access to Interstate 275 and is surrounded by demand generators, including major employers, medical centers, universities, and regional attractions.
