Mumford Company was pleased to once again represent The Rivett Group in the sale of the Super 8 Motel of Bloomington, Minnesota to Embassy Enterprises, LLC. The sale is part of an ongoing effort by The Rivett Group to dispose of legacy assets and to redeploy capital into their MyPlace brand. The purchasers are an experienced local business group, but the Super 8 is their first foray into the lodging business. They plan to make cosmetic renovations to the property and retain the Super 8 franchise.
David Mumford, Senior Principal in Mumford Company’s Newport News office and Lance Potter, Senior Vice President in the firm’s Chicago office managed the marketing and transaction activities on behalf of the seller.
Situated at the intersection of Interstate 494 and Nicollet Avenue just off Interstate 68, the property has excellent visibility from I-494. The 142 unit property is a 3 story interior corridor structure built in 1981 including a continental breakfast area, business center, exercise room, whirlpool and sauna. Regional demand generators include the Mall of America, Minneapolis/St. Paul International Airport, Hubert H. Humphrey Metrodome and Target Center.
Mumford Company is a hotel real estate brokerage firm with a commitment to results-oriented customer service that has accomplished over 900 completed transactions in its 36-year history. With its' experienced sales team in five regional offices across the country, including the company's newly opened Washington DC office, Mumford Company is a leader in the sale of mid-market and economy hotels. For more information contact Mumford Company at (757) 873-0962.