South Carolina Hampton Inn & Suites Sold for $11.3M

DUNCAN, SCThe 133-room Hampton Inn & Suites Greenville/Spartanburg here has sold for $11,325,000 ($85,150 per unit).

The property is a five-story, limited-service hotel with 38 oversize suites and visibility to commuters along Interstate 85. It is located about four miles from the newly constructed Tyger River Park, a $17-million sports complex, and about five miles from the only BMW manufacturing plant in the United States. Spartanburg also is home to the world headquarters of Denny’s restaurant chain.

Marcus & Millichap handled the transaction. The listing agents were David Greenberg, VP/investments, and Robert Hunter, senior associate, of the firm’s Fort Lauderdale, FL, office. Greenberg and Hunter also secured the undisclosed buyer.

“Greenville-Spartanburg, South Carolina is a high-barrier-to-entry but growing market, and the Hampton Inn offers an opportunity for maximized revenues,” stated Greenberg.