ROTHSCHILD, WI, June 6, 2023 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Econo Lodge Rothschild, a 60-room hospitality property located in Rothschild, WI, according to Todd E. Lindblom, regional manager of the firm’s Minneapolis office. The asset sold for $1,650,000.
Jared Plamann, Jake M. Erickson, Joseph Ferguson, and Jon Ruzicka, investment specialists in Marcus & Millichap’s Minneapolis office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was secured and represented by Jared Plamann, Jake M. Erickson, Joseph Ferguson, and Jon Ruzicka. Todd Lindblom, Wisconsin Broker, assisted in closing this transaction.
Econo Lodge Rothschild is located at 1510 County Rd XX in Rothschild, WI. The hotel had seen tremendous growth in 2023 business in response to a thorough renovation completed by the Seller. 2022 RevPAR finished shy of $30 while 2023 RevPAR continues to trend above $35. Per Plamann, “The Central WI Hotel market and demand remains consistent, and buyer was able to benefit in an expedited acquisition for strong summer revenues”. This sale marks the 67th hotel transaction for the team of Ruzicka/Erickson/Plamann/Ferguson out of Marcus & Millichap’s Minneapolis office.
