Wilmington Hotel Sells for $5 Million at $36 Per Square Foot
4926 Market Street hotel in Wilmington, NC sold for $5 million at $36 per square foot.
The hotel located at 4926 Market Street in Wilmington, NC has been sold for 5 million. The deal was closed on November 18, 2021, and the property was sold at a price of 36 per square foot. The total square footage of the deal was 135,907 square feet.
The property is an asset type of hotel, and it is located in a prime location in Wilmington. The hotel has been a popular destination for tourists and business travelers alike, and it has been well-maintained over the years.
The buyer and seller of the property have not been disclosed, but it is likely that the buyer is a real estate investment firm or a hotel operator. The seller may have been a private individual or a company that owned the property.
The broker for the deal was Robert Hunter, who is a well-known commercial real estate broker in the Wilmington area. Hunter has been involved in many high-profile deals in the area, and he has a reputation for getting deals done quickly and efficiently.
The sale of the hotel at 4926 Market Street is a significant deal for the Wilmington commercial real estate market. The sale price of $5 million is a strong indication of the strength of the market, and it is likely that other hotels and commercial properties in the area will see increased interest from investors.
Overall, the sale of the hotel at 4926 Market Street is a positive sign for the Wilmington commercial real estate market. The strong sale price and the involvement of a well-known broker like Robert Hunter are both indications that the market is healthy and growing. It will be interesting to see what other deals will be made in the area in the coming months and years.