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https://www.marcusmillichap.com/news-events/press/2023/10/10-19-fairfield-inn-salem
Marcus & Millichap (NYSE:MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a Fairfield Inn & Suites located in Salem, Virginia. The property sold for an undisclosed price.
Chase Dewese, Jack Davis and Joce Messinger, investment specialists with the DDM Hotel Group of Marcus & Millichap, procured the buyer on behalf of the developer, Kaylan Hospitality. Brian Hosey assisted in the transaction as Virginia broker of record.
"We were able to engage an out-of-state buyer looking to expand his asset portfolio in the western Virginia market," says Dewese. "Kaylan Hospitality, one of the well-known developers in the region, delivered an exceptional product."
"Our team continues to perform and uncover value in the southeast, even during this period of economic uncertainty," adds Davis.
The hotel is located at 121 Sheraton Drive in Salem. Featuring 113 guest rooms, it was built on 3.13 acres in 2017.
Posted In: MMI
