Marcus & Millichap brokered the sale of Radisson RED, a 164-room, contemporary lifestyle hotel in Minneapolis’ Mill District.
Joseph Ferguson, Jon Ruzicka, Reed Gizinski and Brock Banken, investment specialists in Marcus & Millichap’s Minneapolis office, marketed the property on behalf of the seller, Choice Hotels International, INC. Ferguson procured the buyer, Minneapolis Hotel Ventures.
The hotel is situated on 1.5 acres at 609 S. Third St., two blocks from U.S. Bank Stadium and approximately 0.2 miles from the light rail station, providing direct access to Minneapolis-St. Paul International Airport. Built in 2016 as the first Radisson RED in the United States, the hotel features OUI Bar + Kitchen, event space and a fitness center, placing guests within walking distance of The Armory, the Mississippi River waterfront and downtown Minneapolis.
