CBRE Hotels has arranged the sale of the 209-room Park Plaza Hotel in Bloomington, Minnesota.
CBRE Hotels’ Nate Sahn, senior vice president, represented the sellers, Hospitality Properties Trust. The buyers are a joint venture between Hawkeye Hotels of Iowa City, Iowa and JR Hospitality of Minneapolis. The new ownership group plans to renovate the hotel and relaunch under a new brand.
Located at 4460 W 78th St. Circle in Bloomington, the Park Plaza Hotel is conveniently located along the Interstate 494 corridor within a short drive to the Mall of America, Minneapolis-St. Paul International Airport and downtown Minneapolis. As home to the Mall of America, Bloomington has more than 40 hotels within the city limits that cater to the mall’s 40 million annual visitors.
