Marcus & Millichap brokered the sale of The Rambler Hotel, an 18-suite boutique hotel in downtown Memphis, Tennessee.
Lucas Jalenak and Alexandre Duong, in association with Jody McKibben, Marcus & Millichap’s broker of record in Tennessee, represented the seller and collaborated with Ian Grusd, CCIM, SIOR, and Connor Curtin of Marcus & Millichap’s Auction Services to market the asset and secure the buyer.
Located at 400 S Main St., The Rambler Hotel is an apartment-style asset originally constructed in 1900 and redeveloped in 2021. The property was a finalist for the 2022 Building Memphis Awards for Best Renovation. The three-story building features loft-style suites with full kitchens and living areas, designed to accommodate extended stays and group travel, as well as ground-floor retail space anchored by a long-term lease to Simmons Bank.
The property is situated in Memphis’ South Main Arts District, within walking distance of Beale Street, the National Civil Rights Museum and the Mississippi Riverfront.
