Marcus & Millichap has facilitated the sale of the TownePlace Suites by Marriott Charlotte Mooresville, a 116-room hotel located in Mooresville, N.C., for $10.25 million. Other terms and conditions were not disclosed.
“Our team generated over 10 offers from both in-state and out-of-state capital and ultimately transacted with a repeat client,” Jack Davis, senior managing director investments, said in a statement..
Davis, along with Marcus & Millichap’s Chase Dewese, Joce Messinger and Milin Mehta, exclusively marketed the property on behalf of the seller and procured the buyer in association with Donald Gilchrist, the firm’s broker of record in North Carolina.
The TownePlace Suites hotel is located near Interstate 77, 23 miles north of Charlotte. Built in 2009, the five-story, interior-corridor hotel spans 1.53 acres and includes an indoor swimming pool and hot tub, a 24-hour fitness center, complimentary breakfast and Wi-Fi, on-site convenience store and parking.