The Holiday Inn Express & Suites in Sylacauga, Ala., was sold for $5.8 million in a deal facilitated by Marcus & Millichap.
The three-story hotel—which was built in 2006—has 60 guestrooms, including standard rooms and suites. The property includes on-site parking, an indoor pool, a fitness center and an event space. The hotel is directly off US-280 near Coosa Valley Medical Center, Talladega Superspeedway and Lake Howard. A property improvement plan—which includes future renovations—are planned for the hotel.
Marcus & Millichap’s Terrence Jefferson, associate director investments in the company’s Atlanta office, Jack Davis and Joce Messinger, in association with Eddie Greenhalgh, the firm’s broker of record in Alabama, exclusively marketed the property on behalf of the seller and procured the private buyer.
“This is our second successful transaction with our client,” Jefferson said in a statement. “We sourced a first-time buyer from out-of-state and closed the transaction without any delays.”