Ronn Thomas of Cushman & Wakefield was retained by CorTrust Bank to sell the 37 room limited service Super 8.
The hotel went back to the bank through a foreclosure, resulting in the business being closed and the building falling into poor condition.
There was no historical financial information available due to prior owner’s financial problems.
The bank was eager to get the property sold and off their books as soon as possible.
The team aggressively marketed the property to buyers throughout the country.
The bank received multiple offers within the first week.
A sale closed in less than 60 days of taking the property to market.
“Ronn worked very hard to market the property. Through his efforts we received multiple offers and were able to sell the property for more than we anticipated. Ronn made the entire process smooth and seamless.”
CUSHMAN & WAKEFIELD
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Cushman & Wakefield Minneapolis-St. Paul
3500 W. American Blvd, Suite 200
Bloomington, MN 55431
No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals.