Marcus & Millichap Real Estate Investment Services closed the sale of a the Best Western Rivertown Inn & Suites, a 50-room hospitality property in Red Wing, Minn.
The hotel sold for $2.175 million.
Jon Ruzicka, an investment specialist in Marcus & Millichap’s Minneapolis office, and Gordon Allred, first vice president of investments in the company’s Ontario office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.
Ruzicka and Allred also secured the buyer.
