MIAMI LAKES, Florida—Marcus & Millichap announced the sale of Candlewood Suites Miami Lakes, a 94-room hotel in Miami Lakes, Florida. The property reopened under the Candlewood Suites flag in mid-December 2024 following its conversion from a TownePlace Suites.
“Buyer valuations relied almost entirely on projections of future revenue and net operating income following a brand conversion and renovation,” said Robert Hunter, senior managing director of investments in Marcus & Millichap’s Fort Lauderdale office. “The favorable result of the competitive process reflects the market’s confidence in the future of hospitality in Miami-Dade County and Southeast Florida.”
Hunter, along with Marcus & Millichap’s Leo Reilly and Jonathan De La Rosa, represented the private-party seller. The buyer, a local developer, was procured by Hunter and Reilly.
The three-story hotel is situated off Interstate 75 and the Palmetto Expressway. Built in 1999 and fully renovated in 2024, the property offers all-suite accommodations with kitchens, complimentary breakfast, a business center, a fitness facility, an outdoor pool, and a convenience store.
The location provides convenient access to major employers and destinations, including Miami Lakes Research & Industrial Park, Amazon’s regional distribution center, Palmetto General Hospital, Boeing Distribution Services, and Miami International Airport.
