2 hotels in Summerville, Orangeburg sell for $14.5M

A commercial real estate brokerage firm has sold two Lowcountry hotels.

Marcus & Millichap, a commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, has sold two Country Inn & Suites hotel properties in Orangeburg and Summerville, collectively for $14.5 million.

“These properties were sold as a portfolio at full asking price,” said Jack Davis, senior vice president investments, in the release. “The buyers plan to convert these properties and complete an extensive renovation.”

Joce Messinger, Chase Dewese, Josh Tammen and Robert Hunter and Davis, investment specialists in Marcus & Millichap’s Charleston, Charlotte Uptown, Phoenix and Fort Lauderdale offices, had the exclusive listing to market the property on behalf of the seller, and procured the buyer, according to the release. The identities of those involved in the transaction were not disclosed.

Related: New luxury design studio to lead $150M renovation of downtown Charleston hotel

Related: Frozen daiquiri bar coming to King Street in downtown Charleston

The 81-room Orangeburg property, located at 71 Citadel Road, features an indoor swimming pool, hot tub, fitness center and meeting space. Built in 2007, it is situated off Interstate 26 near educational institutions and the Regional Medical Center of Orangeburg, according to the release.

The Summerville property, located at 220 Holiday Drive, is an 84-room, four-story hotel with amenities including an outdoor swimming pool and fitness center. Built in 2004, it is also positioned along I-26, near major demand generators such as Boeing, Volvo, and Charleston Southern University, the release stated.

Copyright © 2024 BridgeTower Media. All Rights Reserved.

For top headlines, breaking news and more, visit charlestonbusiness.com or sign up for our newsletter .