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Best Western Inn Goes for $9M in Twin Cities
Marcus & Millichap finalized the sale of Best Western Premier Nicollet Inn, a 131-key hospitality property located in Burnsville, MN, within the Twin Cities metro area. The asset sold for $8,650,000.
Jake M. Erickson, Joseph Ferguson, Jared Plamann and Jon Ruzicka, investment specialists in Marcus & Millichap’s Minneapolis office and National Hospitality Group, marketed the property on behalf of the seller, a limited liability company. The buyer, a fund manager, was secured and represented by Erickson, Ferguson, Plamann and Ruzicka,
Best Western Premier Nicollet Inn is located at 14201 Nicollet Ave in Burnsville and is a prominent hotel property offering 131 keys and a full-service restaurant. With an occupancy rate of 42.3% and an average daily rate of $119.62, the hotel achieved RevPAR of $50.60 as of year-end 2022.
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- ◦Sale/Acquisition