TALLAHASSEE, FLA. (Nov. 7, 2022) – Coldwell Banker Commercial Realty is pleased to announce that it has closed the sale of the Comfort Inn & Suites located at 1978 Village Green Way in Tallahassee. The sale price was $11.25 million.
The Tallahassee Comfort Inn & Suites is a mid-upscale hotel with 100 rooms. It was completely renovated in 2020-2021 and went under contract in April 2022.
Roberto La Rocca of Coldwell Banker Commercial Realty represented the buyer, an international hospitality group who previously acquired the Best Western Airport Orlando earlier this year. La Rocca also represented them in that transaction. “They really liked the Tallahassee area as a way to reach corporate guests and continue building a presence in the leisure market. Their goal is to keep expanding in the U.S. market, looking to acquire more properties next year, depending on market conditions, of course,” said La Rocca.
“It was a pleasure to help my client successfully complete this transaction, which involved various complexities such as 14 amendments to the purchase and sale agreement. After implementing many creative solutions and undergoing several months of negotiations, we reached a deal that satisfied all involved parties,” said La Rocca.
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Coldwell Banker Commercial Realty, an affiliate of Coldwell Banker Commercial®, provides commercial real estate solutions serving the needs of owners and occupiers in the leasing, acquisition and disposition of all property types. With a collaborative network of independently owned and operated affiliates, the Coldwell Banker Commercial organization comprises almost 200 companies and more than 3,000 professionals throughout the U.S. and internationally. For additional information, visit www.cbcworldwide.com.
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