Marcus & Millichap brokers $10.6 million sale of La Quinta Inn & Suites

Clifton Park, NY Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, have completed the sale of a 104-room La Quinta Inn & Suites hotel property. The property sold for $10.6 million. 

“We created a wide-ranging and competitive marketing process," said Kevin Laureno. “Our unmatched ability to access buyers and articulate future value generated a significantly above-list-price outcome, yielding nearly a dozen written offers with competitive terms and creating a win-win for both the buyer and seller.” 

Laureno and Alexandre Duong, investment specialists in Marcus & Millichap’s Cleveland office, had the exclusive listing to market the property on behalf of the seller. John Horowitz is Marcus & Millichap’s broker of record in New York. 

The four-story La Quinta Inn & Suites sits on 3.09 acres at 1749 U.S. 9. Built in 2017, the 46,266-square-foot hotel features amenities such as an indoor pool and a fitness center. The property caters to both business and leisure travelers, located just seven minutes from dozens of restaurants and Clifton Park Mall and 25 minutes from Albany International Airport.