A distressed Quality Inn of Ocala, FL was recently the object of desire for certain Florida investors, showing an increasing demand for such properties in the area. Marcus & Millichap group brought both buyer and seller together, with different branches assisting each respectively. Investors are looking more carefully at the Ocala market, as there has been continuing growth of tourism and travel throughout the region.
The Quality Inn, previously a Hampton Inn revamped in 2012, was strategically placed to garner the most value possible, despite its distressed status. The buyer, unnamed, had no experience in hotel management, but was excited of the industry’s potential income and saw the most value in the property. Ocala’s commercial real estate is moving more and more as of late, and is certainly something to watch.