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Chicago & Midwest  + Midwest  + Hospitality  |  July 3, 2024
Jasmine Kilman
By: Jasmine Kilman

Marcus & Millichap Brokers Sale of ND SureStay Hotel

Marcus & Millichap closed the sale of a SureStay Plus Hotel property located in Minot, North Dakota.

“Certain North Dakota markets continue to be highly sought after due to attractive pricing expectations compared with the rest of the nation,” said Jon Ruzicka, first vice president investments. Ruzicka and Joseph Ferguson, investment specialists in Marcus & Millichap’s Minneapolis office, procured the buyer.

The SureStay Plus Hotel is located at 900 24th Avenue SW on 1.71 acres. The 74,000-square-foot asset contains 61 rooms and amenities, including an indoor swimming pool and a fitness center.

“We were able to procure a buyer who stepped up and ultimately purchased the property even after multiple lenders refused to finance it, given its value-add component,” added Ruzicka.”This specific buyer plans exciting changes for the property, including a thorough renovation and rebranding.”

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Marcus & MillichapSure Stay Plus

About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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