Ronn Thomas from Cushman & Wakefield NorthMarq was retained by CorTrust Bank to sell the 37 room limited service Super 8.
The hotel went back to the bank through a foreclosure, resulting in the business being closed and the building falling into poor condition
There was no historical financial information available due to prior owner’s financial problems.
The bank was eager to get the property sold and off their books as soon as possible.
The team aggressively marketed the property to buyers throughout the country.
The bank received multiple offers within the first week.
A sale closed in less than 60 days of taking the property to market.
“Ronn worked very hard to market the property. Through his efforts we received multiple offers and were able to sell the property for more that we anticipated. Ronn made the entire process smooth and seamless.”
Jay GikasVice President of CorTrust Bank (2015)
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.