DETROIT LAKES, MINNESOTA—Marcus & Millichap announced the sale of a 45-room Country Inn & Suites property in Detroit Lakes, Minnesota.
“This transaction reflects the continued investor demand for well-maintained, premium-branded hotels in Minnesota’s drive-to leisure markets,” said Joseph Ferguson, director of investments. “Detroit Lakes remains one of Minnesota’s strongest regional lodging destinations, supported by a diverse mix of tourism, outdoor recreation, local events, healthcare and business travel, which continues to drive long-term investor interest in the area.”
Ferguson, Jon Ruzicka, Reed Gizinski and Brock Banken, investment specialists in Marcus & Millichap’s Minneapolis office, had the exclusive listing to market the property on behalf of the seller, DL Hotel Group LLC, and procured the South Dakota-based buyer.
The 45-room Country Inn & Suites was built in 1996. The recently renovated hotel is located just off Highway 10 and within walking distance of Detroit Lake, with access to Detroit Mountain Recreation Area, the Heartland State Trail and more than 400 lakes within a 25-mile radius, positioning it near some of the region’s popular year-round outdoor recreation and tourism destinations. The buyer plans to continue operating the property as a Country Inn & Suites while building on its strong reputation within the market.
