Marcus & Millichap, a commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of the Days Inn Pensacola Beachfront, a 123-room hotel in Pensacola Beach, Fla.
The property’s $13.5 million sales price equates to more than $109,000 per guestroom.
“There are only nine hotels in Pensacola Beach,” David Altman, senior associate in Marcus & Millichap’s Fort Lauderdale office, said in a statement. “Due to the high barriers to enter this market and through a targeted marketing campaign, we were successful in fielding offers and entering into a sales contract within three weeks of bringing the property to market. The new owner of the Days Inn Pensacola Beachfront plans on renovating the property to add additional amenities for future guests.”
David Greenberg, senior managing director investments; Robert S. Hunter, first VP investments; Gabriel Shamay, associate; and David Altman represented the seller, Highland Development Group. The team also procured the buyer, a limited-liability company based in Texas.
Built in 1990, the property is located at 16 Via De Luna Drive in Pensacola Beach, a tourist community located on Santa Rosa Island, a barrier island south of Pensacola, the westernmost city in the Florida Panhandle. Interstates 10 and 110 are minutes from the hotel, and Pensacola International Airport is located within driving distance.