Marcus & Millichap Inc.
08/15/2023 | Press release | Distributed by Public on 08/15/2023 13:56
Marcus & Millichap Announces the Sale of Wingate by Wyndham in Fayetteville
Press Releases
Marcus & Millichap Announces the Sale of Wingate by Wyndham in Fayetteville
August 15, 2023
LinkedIn Email App
FAYETTEVILLE, N.C., August 15, 2023 - 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 Wingate by Wyndham¬-Fayetteville/Fort Bragg, an 85-room hotel located in Fayetteville, North Carolina. The property sold for an undisclosed price.
"Our team was able to generate multiple offers from in-state and out-of-state buyers to create a competitive bidding process," said Jack Davis. "Through this process, we successfully transacted with a local group who closed on the hotel without any surprises."
Davis, Chase Dewese, Eric Webster and Joce Messinger, investment specialists in the firm's Charleston and Charlotte Uptown offices, had the exclusive listing to market the property on behalf of the seller, Shamin Hotels. The team also procured the local buyer, who intends to convert and reposition the hotel within the IHG Hotels family.
Wingate by Wyndham¬-Fayetteville/Fort Bragg is located at 4182 Sycamore Dairy Road in Fayetteville. Built in 1998 on two acres, the hotel features 4 floors of well-maintained guest rooms. Common area amenities include complimentary breakfast, business center with fax & photocopy machines, fitness center, free on-site parking, 24-hour front desk, vending machines, and guest-laundry facilities.
"Our team was able to generate multiple offers from in-state and out-of-state buyers to create a competitive bidding process," said Jack Davis. "Through this process, we successfully transacted with a local group who closed on the hotel without any surprises."
Davis, Chase Dewese, Eric Webster and Joce Messinger, investment specialists in the firm's Charleston and Charlotte Uptown offices, had the exclusive listing to market the property on behalf of the seller, Shamin Hotels. The team also procured the local buyer, who intends to convert and reposition the hotel within the IHG Hotels family.
Wingate by Wyndham¬-Fayetteville/Fort Bragg is located at 4182 Sycamore Dairy Road in Fayetteville. Built in 1998 on two acres, the hotel features 4 floors of well-maintained guest rooms. Common area amenities include complimentary breakfast, business center with fax & photocopy machines, fitness center, free on-site parking, 24-hour front desk, vending machines, and guest-laundry facilities.
# # #
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2022, the company had 1,904 investment sales and financing professionals in 81 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion. For additional information, please visit www.MarcusMillichap.com.