High-rise commercial buildings

Sub Markets

Property Sectors

Topics

Chicago & Midwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Chicago & Midwest  + Midwest  + Hospitality  | 

Minnesota Hotel Offering Draws Buyers from Across the U.S.

Marcus & Millichap finalized the sale of C’mon Inn Hotel Park Rapids, a 44-room hospitality property located in Park Rapids, MN. The sale price wasn’t disclosed.

Jon Ruzicka, Jake Erickson, Jared Plamann and Joseph Ferguson, investment specialists in Marcus & Millichap’s Minneapolis office, marketed the property on behalf of the seller. The buyer was procured by the team of Ruzicka/Erickson/Plamann/Ferguson as well.   

C’mon Inn Hotel Park Rapids is located at 1009 1st St E in Park Rapids, MN.  Ruzicka said, “Through an all-encompassing marketing effort, the listing team was able to facilitate tours and generate competing offers from investors located throughout the entire United States, with the ultimate buyer being sourced from the West Coast. The property appealed to a broad array of buyers due to its attractive returns and extensive recent physical and cosmetic upgrades which include roof, siding, windows, and an overhaul of the facility’s HVAC system, etc.” 

Connect

Inside The Story

Marcus & Millichap's Ruzicka

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition