2/11/2008

Sperry Van Ness completes two sales worth $10.9M

by

Best Western

Sperry Van Ness has completed the sale of a Best Western Hotel in Des Moines, Iowa and a self storage facility in Fresno, Calif., for a combined sale price of $10.9 million.

In Des Moines, Scott Henderson represented REDJ, Ltd. in the 1031 purchase of a Best Western Hotel and a Bennigan's Restaurant for $5.8 million. The 144-room hotel is situated on 4.79 acres at 1810 Army Post Rd.

In Fresno, Peter Ingersoll represented locally-based Stor4Less in the sale of a 23-building self storage property for $5.1 million to A-American Self Storage. Built in 2006, the 643-unit property is located at 2455 N. Marks Ave. on 4.76 acres. It was 93 percent occupied at the time of sale and sold for 98 percent of appraisal value.

Address: Best Western Hotel at 1810 Army Post Rd., Des Moines, Iowa
- Stor4Less at 2455 N. Marks Ave., Fresno, Calif.

Size: 144 rooms/643 units

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Filed Under: Hotel/Resort

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