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 tendencies following the influence of Hurricanes Helen and Milton, amongst different difficult components. 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 customer, a longtime owner-operator with a robust presence in Florida.
The three-story property was inbuilt 2013 and sits on roughly 3.72 acres. Positioned minutes from Siesta Key Seaside, the all-suites property gives facilities together with complimentary breakfast, a enterprise heart, a health heart, an outside heated pool, and assembly house.
