CBRE Hotels is pleased to announce the sale of the Hampton Inn located at 5793 Greenwich Road in Virginia Beach, Va. from New Jersey based Blenheim Hotels to Florida based Liberty Fund Acquisitions. The 120-room hotel is ideally situated in the heart of Norfolk-Virginia Beach MSA with great accessibility to I-64/I-264, allowing guests to easily explore the entire Hampton Roads region.
“Doug, Freddie, and the rest of the CBRE team did a great job in marketing the property, selecting the right buyer, and supporting the entire transaction from due diligence to closing. I would highly recommend CBRE and plan on working with them on future transactions,” said Nick Gandhi, Principal of Blenheim Hotels.
Built in 1991, and last renovated in 2014, the hotel was awarded the Certificate of Excellence and ranks 28th of 112 hotels in Virginia Beach, according to Trip Advisor. The hotel boasts an array of amenities that include an on-site fitness center, business center, complimentary Wi-Fi and breakfast, and an outdoor swimming pool.
“This hotel enjoys a strong central location and with the significant improvements that the new owner will be making to the hotel it should continue as well as improve its strong performance in the market,” said Executive Vice President Doug Henkel.
Doug Henkel, Lewis Miller, Lisa Zaranek, and Frederick Fletcher of CBRE Hotels represented the Seller in the transaction.
About CBRE – Hampton Roads
CBRE |Hampton Roads is an affiliate office of CBRE Inc. serving the Hampton Roads region. The firm assists real estate owners, investors and occupiers by offering strategic advice and execution for property leasing and sales; property, facilities and project management; corporate services; debt and equity financing; and valuation and appraisal. In 2016, CBRE|Hampton Roads completed 502 lease transactions encompassing 4.7 million square feet and totaling $322 million in value. In addition, the CBRE|Hampton Roads office also completed 113 sales transactions in 2016 with a total value of $644 million. For more information about the Norfolk or Newport News office, visit our website, www.cbre.com/norfolk or www.cbre.com/newportnews.
About CBRE in the Mid-South Region
CBRE is the only global real estate services firm with offices in Norfolk, Newport News, Richmond, Charlottesville, CBRE Press Release and Fredericksburg, VA, and Raleigh and Greensboro, NC. These offices are collectively referred to as the MidSouth region. The CBRE Mid-South offices (excluding Northern Virginia and Charlotte, NC offices) completed $3.2 billion of sales and leasing transactions in 2016.
About CBRE Group, Inc. CBRE Press Release
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.