SPEARFISH, South Dakota—Marcus & Millichap announced the sale of a Super 8 by Wyndham Spearfish, a 60-room hotel in Spearfish, South Dakota, for $2.4 million.
“This transaction presented a compelling opportunity for an investor to acquire a well-located hospitality asset with multiple paths to value creation,” said Jon Ruzicka, managing director of investments. “The buyer plans to reposition the property through rebranding and operational enhancements, allowing them to better capitalize on the area’s strong year-round tourism and regional demand drivers.”
Ruzicka, Joseph Ferguson, and Reed Gizinski, investment specialists in Marcus & Millichap’s Minneapolis office, had the exclusive listing to market the property on behalf of the seller and procured the buyer.
The Super 8 was built in 1977, and it is located off Interstate 90, benefiting from proximity to regional attractions including Spearfish Canyon, Mount Rushmore, and Deadwood.
