Marcus & Millichap closed the sale of a 70-room Welcome Suites Extended Stay hotel property in Springdale, Ohio.
Michael Klar and Ebrahim Valliani, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, in association with Michael Glass, Marcus & Millichap’s Ohio broker of record, had the exclusive listing to market the property on behalf of the seller and procured the buyer, both private investors. The transaction received additional support from Chris Gomes and Allan Miller of the Miller-Gomes Hotel Team.
The three-story Welcome Suites Extended Stay Springdale is situated on 1.82 acres at 11645 Chesterdale Road. Built in 1988, the hotel features kitchenettes in each suite, along with on-site guest laundry and vending amenities. The property offers direct access to Interstate 275 and is surrounded by demand generators, including major employers, medical centers, universities and regional attractions.
