FORT WALTON BEACH, FLA. — Marcus & Millichap has brokered the sale of the Best Western Fort Walton Beachfront, a six-story, 100-room hotel in Fort Walton Beach. The 1.4-acre property sold for $23.6 million.
David Altman, Robert Hunter and Leo Reilly of Marcus & Millichap marketed the property on behalf of the seller, Ft. Walton Beach Hotel Group Inc., as well as secured and represented the buyer, Spartanburg, S.C.-based OTO Development LLC.
Built in 1998, Best Western Fort Walton Beachfront includes amenities such as offsite fitness center access at Gold’s Gym, a business center, ocean-facing outdoor pool area, Cabana Bar and live entertainment nightly in the Swizzle Stick Lounge. Located at 380 Santa Rosa Blvd., the Best Western Fort Walton Beachfront provides guests with direct beach access and private balconies overlooking the Gulf of Mexico.