NEW MARKET, VA. — BSPM Hospitality of VA has sold an 85-room Days Inn to Shree Vishnuji LLC for an undisclosed amount. The hotel is located adjacent to the New Market Battlefield in the Shenandoah National Park in New Market. The purchaser plans to undertake renovations to the property. David Mumford and Ed James of Mumford Co.’s Virginia office brokered the sale.
RIVERSIDE, CALIF. — Pinnacle Hotels USA has acquired Marriott Riverside, a 292-room hotel located in downtown Riverside, for $19.3 million or $66,000 per room. The 12-story hotel offers 14,000 square feet of meeting space, a restaurant, a lounge, a gift shop, an outdoor swimming pool and whirlpool, a fitness room and a business center. CB Richard Ellis Hotels represented the buyer; Pete Dannemiller of Hodges Ward Elliott represented the seller, Sunstone Hotels, in the transaction.
GRAFTON, WIS. — The grand opening has been held for the new Hampton Inn & Suites – Grafton, an 83-room hotel located in the northern Milwaukee suburb of Grafton. The four-story hotel features rooms with wireless Internet access, flat-screen televisions, and suites with microwaves and refrigerators. Hotel amenities include an indoor swimming pool, a fitness center, a business center, 600 square feet of meeting space and a boardroom. The hotel is situated within Gateway to Grafton, a 16-acre mixed-use development located at the interchange of Interstate 43 and State Highway 60. The hotel was developed by North Liberty, Iowa-based Kinseth Hospitality Corp. Gateway to Grafton is being master-developed by West Bend, Wis.-based American Design-Build.
HANOVER AND YORK, PA. — York-based ROCK Commercial Real Estate has completed three sales. In Hanover, Royal Farms purchased a 23,124-square-foot hotel located at 103-121 Carlisle St. ROCK represented the buyer. In York, Tekgard Inc. purchased a 21,863-square-foot light manufacturing facility located at 3390 Farmtrail Rd. ROCK again represented the buyer. Finally, 922 Loucks Road LLC purchased the 6,682-square-foot former Lone Star Steakhouse & Saloon building, located at 922 Loucks Rd. in York. ROCK represented the undisclosed seller in this transaction.
VIRGINIA BEACH, VA. — Weatherly Investment Associates has opened the 144-room Holiday Inn Express & Suites Virginia Beach Oceanfront after an extensive renovation and rebranding. The property, formerly the Holiday Inn Hotel & Suites Surfside, is located at 2607 Atlantic Ave. in Virginia Beach. Amenities include an on-site market, a heated swimming pool and a business center.
ORLANDO, FLA. — Kalson’s Hospitality has completed the 130-unit Homewood Suites by Hilton – Lake Buena Vista-Orlando, located at 11428 Marbella Palm Court in Orlando. The property features a business center, a 24-hour pantry and a swimming pool. Homewood Suites by Hilton – Lake Buena Vista-Orlando is an Eco-Green Hotel project.
LOS ANGELES — Geulah Investments LLC has completed the disposition of a 38,000-square-foot former medical office building, which is located within the Miracle Mile at 6317 Wilshire Blvd. in Los Angeles. 6317 Wilshire LLC purchased the property for $7.4 million. The company plans to convert the asset into a boutique hotel offering a rooftop pool, a restaurant and bar, and a spa. Jonathan Ahron and David Aschkenasy of Charles Dunn Co. represented the buyer in the transaction.
FOND DU LAC, WIS. — Milmark Hotel/Motel Investment has brokered the sale of the Ramada Plaza Hotel, a 132-room hotel located in Fond du Lac. The hotel, which is on the National Register of Historic Places, features a ballroom and banquet rooms for events; a restaurant and lounge on the first floor; and a fitness center with a pool, a whirlpool, a sauna and exercise equipment. The property was purchased by California-based Fine Hospitality Group, which plans to significantly upgrade it in the near-term. The purchase is part the company’s plans to expand into the Midwest. The sellers were CPRS Properties and One North Main. The acquisition price was not disclosed.
PERU, ILL. — Lisle, Ill.-based Peak Construction Corp. has begun construction for a new Holiday Inn Express & Suites, located in Peru. The three-story hotel will be situated at 5253 Trompeter Rd., immediately north of Interstate 80. It will feature 79 rooms as well as meeting space. Completion is scheduled for January 2010. The developer is Peru Hotel Group LLC and the project architect is Fargo, N.D.-based Lightowler Johnson Associates.
WYTHEVILLE, VA. — Roanoke, Va.-based Tri-Strength has purchased a 72-room Econo Lodge in Wytheville from affiliates of Allen Management for an undisclosed amount. Tri-Strength is planning to renovate the hotel before rebranding it as a Knights Inn. Ed James, David Mumford and Justin Pinkard of Mumford Co. represented the seller.
