Marcus & Millichap has arranged the sale of a 46-room AmericInn by Wyndham Detroit Lakes in Detroit Lakes, MN.
“After previous marketing efforts by the seller did not result in a sale, we were able to leverage the Marcus & Millichap platform to connect with qualified buyers and renew interest in the property, ultimately bringing the deal to a successful close,” said Brock Banken, associate investments, Marcus & Millichap. “The new ownership plans to renovate guestrooms, common areas and the exterior, and take a hands-on approach to operations to improve performance. With Detroit Lakes’ status as a year-round destination and its strong seasonal demand, the market is well-positioned for continued growth.”
Banken, Jake Erickson and Jared Plamann, investment specialists in Marcus & Millichap’s Minneapolis office, had the exclusive listing to market the property on behalf of the seller, Cwikla Hospitality LLC, and procured the buyer, Mahaveer LLC.
The hotel was built in 1995 and offers an indoor pool, hot tub, sauna, meeting room and business center. The hotel sits on 3.21 acres in a high-visibility area that sees more than 37,000 vehicles a day, according to Marcus & Millichap. Detroit Lakes draws business and leisure travelers for fishing, hunting and access to more than 400 lakes in and around the city.
