MIAMI LAKES, Florida—Marcus & Millichap introduced the sale of Candlewood Suites Miami Lakes, a 94-room resort in Miami Lakes, Florida. The property reopened underneath the Candlewood Suites flag in mid-December 2024 following its conversion from a TownePlace Suites.
“Purchaser valuations relied nearly totally on projections of future income and internet working earnings following a model conversion and renovation,” stated Robert Hunter, senior managing director of investments in Marcus & Millichap’s Fort Lauderdale workplace. “The favorable results of the aggressive course of displays the market’s confidence in the way forward for hospitality in Miami-Dade County and Southeast Florida.”
Hunter, together with Marcus & Millichap’s Leo Reilly and Jonathan De La Rosa, represented the private-party vendor. The client, a neighborhood developer, was procured by Hunter and Reilly.
The three-story resort is located off Interstate 75 and the Palmetto Expressway. In-built 1999 and totally renovated in 2024, the property gives all-suite lodging with kitchens, complimentary breakfast, a enterprise heart, a health facility, an out of doors pool, and a comfort retailer.
The situation offers handy entry to main employers and locations, together with Miami Lakes Analysis & Industrial Park, Amazon’s regional distribution heart, Palmetto Normal Hospital, Boeing Distribution Providers, and Miami Worldwide Airport.
