SVN Arranges Sale of 117 Room Clarion Inn & Suites in Michigan City, Indiana
Robert J. Pliska, CRE, CPA, MBA, Owner/Managing Director, SVN | Property Investment Advisors, LLC arranges a sale of a full service 117 room hotel in Michigan City, Indiana
BIRMINGHAM, MI –
April 7, 2016 – Robert J. Pliska, CRE, CPA, Owner/Managing Director, SVN| Property Investment Advisors, LLC arranged a $1.9 million cash “as is” sale of the 117 room Clarion Inn & Suites in Michigan City, Indiana. Purchaser, Raj Patel and his partners, are regional investors and operators with hotels in the Indiana and the Michigan market. Seller was R and K Investment Corp who owned and operated the property for many years through a local family that at one time owned several hotels.
Michigan City, Indiana is located on the south shore of Lake Michigan – a little over an hour drive from downtown Chicago. Nearby shopping areas include many retailers such as Kohl’s, TJ Maxx, Wal-Mart, Lowes, Menards, Marquette Mall and the Lighthouse Outlet Mall with 120 stores. There are many restaurants, shops, banks, the Indiana and Michigan beaches, recreation areas, zoo and the nearby Blue Chip Casino. A new $180 million hospital is under construction directly across the street from the hotel.
About Sperry Van Ness International Corporation and SVN | Property Investment Advisors, LLC
Sperry Van Ness International Corp., a full-service commercial real estate franchisor of the SVN brand, is one of the industry’s most recognized names based on the annual Lipsey Top Brand Survey. With nearly 200 locations serving 500 markets, SVN provides sales, leasing, consulting, financing and property management services to more than 5,500 clients worldwide. SVN Advisors also represent clients in office, retail, industrial, multifamily, hospitality, land, medical, golf & resort, auctions services, charter schools, distressed real estate and single tenant investments. All SVN offices are independently owned and operated. For more information, visit http://www.svn.com and http://www.svnpia.com.
Robert J. Pliska, CRE, CPA
Sperry Van Ness (now SVN) | Property Investment Advisors, LLC