Ronn Thomas from Cushman & Wakefield NorthMarq was retained by Sonar Corporation to sell the 196 room full service Clarion Inn.
Owners did not want the hotel staff aware that the property was for sale.
The property was a 50 year old, full service hotel that included a pool, banquet facilities, restaurant and outdoor patio bar.
The hotel faced new competition, as several new hotels recently opened or were under construction nearby.
The property sustained soil and ground water contamination from previous user and neighboring businesses.
Buyer encountered lengthy and complicated city approval process.
Discretely marketed the hotel so that employees were unaware of the sale.
Found buyers by aggressively marketing the property throughout the upper Midwest.
Sold property for a maximum value as a development site with appealing location along the main street in Rochester.
Navigated process with the PCA to secure a No Association letter.
Closed prior to buyer receiving all governmental approvals.
Discover what makes Cushman & Wakefield the preferred real estate partner. Visit our global site for more information regarding our company, its services, and our people.
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.