Holiday Inn Express East Indianapolis, a popular hospitality property in Indianapolis, Indiana, has been sold in a significant deal, marking a new chapter for the establishment. Marcus & Millichap, a leading commercial real estate brokerage firm, facilitated the sale of the 90-guest room hotel.
According to Steven Ross Chaben, Regional Manager of Marcus & Millichap’s Detroit office, Jasdeep Sohi, Senior Associate, played a pivotal role in the sale. Sohi, an investment specialist based in the firm’s Detroit office, exclusively managed the property’s listing on behalf of the seller, a limited liability company. Sohi also secured and represented the buyer, another limited liability company, with the assistance of Josh Caruana, Regional Manager and Broker of Record of Indiana.
Located at 7035 Western Select Drive, Holiday Inn Express East Indianapolis sits on a 1.51 acre lot in the heart of East Indianapolis. Built in 1999, the Upper Midscale Hospitality Property has become a familiar choice for travelers visiting the area. The property is scheduled to undergo a comprehensive renovation following IHG’s Formula Blue Package in the coming months, ensuring a refreshed and modernized experience for guests.
Marcus & Millichap, known for their expertise in investment sales, financing, research, and advisory services, operates throughout the United States and Canada. The firm boasts a vast network of professionals who provide brokerage and financing services to clients in the commercial real estate sector. In 2022 alone, Marcus & Millichap closed an impressive 12,272 transactions, with a sales volume totaling around $86.3 billion.
To learn more about Marcus & Millichap and their range of services, visit their official website at www.MarcusMillichap.com.
The sale of Holiday Inn Express East Indianapolis signifies the beginning of an exciting new era for the hotel. With full renovations planned, guests can anticipate a fresh and updated environment that aligns with IHG’s current Formula Blue Package. The property’s strategic location in East Indianapolis further enhances its appeal, offering convenience and easy access to various attractions in the area.
As the hospitality industry continues to evolve, this major deal exemplifies the growth and opportunities present in the Indianapolis market. The involvement of reputable firms like Marcus & Millichap underscores the confidence and interest in the region’s commercial real estate sector.
With the upcoming renovations, Holiday Inn Express East Indianapolis is poised to attract even more visitors and provide them with an exceptional stay. Whether for business or leisure, guests can look forward to a revitalized hotel experience and a comfortable ambiance. This development aligns with the ongoing efforts to enhance the quality and offerings of the hospitality industry in Indianapolis.
Overall, the sale of Holiday Inn Express East Indianapolis in this significant transaction showcases the strength and appeal of the city’s commercial real estate market. The collaboration between Marcus & Millichap and the involved parties indicates a promising future for the hotel, bringing exciting updates and renovations that will elevate the guest experience to new heights. As the renovations commence, travelers and locals alike can eagerly anticipate the transformation of this beloved Indianapolis establishment.
