SARASOTA, Florida—Marcus & Millichap introduced the sale of the 97-room Consolation Suites Sarasota Siesta Key in Sarasota, Florida.
“Given the power of the Sarasota market, the standard of the property and the resort’s historic working efficiency, this sale generated extra aggressive exercise than we’ve seen in years,” stated Robert Hunter, senior managing director, Investments in Marcus & Millichap’s Fort Lauderdale workplace. “There had been a number of aggressive bids to purchase the resort above goal pricing, regardless of turbulent year-over-year regional income traits following the affect of Hurricanes Helen and Milton, amongst different difficult elements. We view the sale as an encouraging knowledge level for Florida’s resort funding market.”
Hunter and Leo Reilly completely marketed the property on behalf of the vendor, the unique developer, and procured the client, a longtime owner-operator with a powerful presence in Florida.
The three-story property was in-built 2013 and sits on roughly 3.72 acres. Situated minutes from Siesta Key Seaside, the all-suites property affords facilities together with complimentary breakfast, a enterprise middle, a health middle, an outside heated pool, and assembly house.
