Amherst, NY According to John Krueger, vice president and regional manager of Marcus & Millichap’s Manhattan office, the firm has completed the sale of a 102-room hotel, the Comfort Inn University, located at 1 Flint Rd. The property sold for $7.3 million.
Jerry Swon, along with Dan Zagoria and Cameron Pierce, represented both sides of the transaction.
“We secured a strong price per key for the seller while also assisting the buyer, who was in a 1031 exchange, expanding his hospitality footprint in the Greater Buffalo market,” said Swon. “This transaction represents the strength and breadth of the Marcus and Millichap platform as our MMCC – Marcus & Millichap Capital Corp.–team, including Christopher Marks and Stephen Filippo, secured the financing for the deal.”
The property is a four-story, 102-room, pet-friendly hotel offering many amenities. These include complimentary WiFi, breakfast, and parking, as well as a fitness center, laundry facility, indoor swimming pool, and business center. Guest rooms feature a television, coffee maker, desk, hair dryer, alarm clock, iron and ironing board, and telephone.
Comfort Inn University is well-situated within the Greater Buffalo Area, between downtown Buffalo and Niagara Falls. It is located off Interstates 90 and 290, neighboring the State University of New York at Buffalo, and is only eight miles from Buffalo Niagara International Airport.