La Quinta Inn Satsuma Sold

SATSUMA, Ala. — Marcus & Millichap, a commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, has announced the sale of La Quinta Inn & Suites in Satsuma. The three-story, 79-room hotel sold for $3.3 million. David Altman, Robert S. Hunter and McLean Hicklin, investment specialists at Marcus & Millichap’s Fort Lauderdale, Florida, office, had the exclusive listing to market the property on behalf of the seller, Meenal LLC. The buyer, SRI SAI Hospitality Group LLC, was also procured by Altman, Hunter and Hicklin. Eddie Greenhalgh, Marcus & Millichap’s broker of record in Alabama, assisted in closing the transaction. The La Quinta hotel sits between Interstate 65 and Highway 43 near many factories, including Allied Steel, SSAB Alabama Inc. and the Vertex Chemical LP Refinery. Totaling 12,893 ft2, it was built on a 2.96-acre site in 2009.