Monday January 20th, 2014 - 9:12AM
NORFOLK, VA—HREC Investment Advisors arranged the sale of the 120-room Inn at Norton here.
The Inn is off Highway 283 near the intersection of Highway 23, approximately 20 miles from the Kentucky state line and 45 miles from the Tennessee state line.
Norton and surrounding areas play host to several yearly events and festivals, including the Best Friend Festival and the Dock Boggs Festival.
HREC VP Ted Anka, who represented the seller, stated, "The Inn at Norton has tremendous upside potential and recently joined the Quality Inn system. Norton itself serves as the regional hub for finance, healthcare, professional services and retail in Western Virginia as the surrounding environment plays host to a variety of yearly events that produce overnight stays. The Hotel is located only one mile from Jefferson National Park along with the regional locations of several large companies, including a Pepsi-Cola Seven-Up bottling plant and a call center for Verizon Wireless."