For immediate release
[Iowa – April 26, 2023]
Leisure Real Estate Advisors Structures Sale of Two Hotels in Iowa
Leisure Real Estate Advisors, LLC has successfully negotiated the sale of the Super 8 Urbandale and the Microtel Inn & Suites Colfax, both located in Iowa.
In the sale of the Super 8 Urbandale, the 60-room Hotel is located at 5900 Sutton Place in Urbandale, Iowa. Urbandale is in the northwest part of the Des Moines Metro Area at the intersections of Interstates 35 and 80 and is within easy access to downtown Des Moines. Listed at $1,600,000, the Super 8 Urbandale was purchased by Urbandale Extended Stay, LLC. Dave Jones, Principal, Leisure Real Estate Advisors, represented the Seller, Jai Ashapuri Ma, LLC, in the transaction. The local buyer will renovate the hotel and operate it as an independent extended stay property, his second location in the greater Des Moines area.
In the sale of the Microtel Inn & Suites, the 39-room Hotel is located at 11000 Federal Avenue in Colfax, Iowa. Colfax is situated along I-80 just 30 minutes east of Des Moines. The extended stay Hotel was built in 2007 by the Seller, Shekar Properties, LLC, and was listed for $1,100,000. Dave Jones, Principal, Leisure Real Estate Advisors, represented the Seller in the marketing and sale of the hotel. The Buyer was Colfax Lodging, LLC, a regional owner.
Dave Jones is a licensed broker in Iowa as well as Kansas and Missouri, and is a Partner of Leisure Real Estate Advisors, LLC. Leisure Real Estate Advisors, LLC is based in metro Kansas City and has a specialty concentration in the marketing and sale of hotels and provides exclusive representation to owners of hotel real estate. With over 75 years of collective hospitality experience and over $1.2 billion in sales, the company has become one of the premier hotel brokerage firms in the country and has been recognized by Hotel Business and Hotel Management magazines for its performance. It has also received numerous Power Broker designations from CoStar and Platinum status from Crexi for several years including in 2022. It has offices in metro Kansas City, and affiliated brokers in Topeka, KS, Columbia, MO and a third-party affiliation in Lincoln, NE. Leisure Real Estate Advisors is also a proud member of Hotel Brokers International (HBI), an international marketing and membership platform of hospitality specialists. Leisure Real Estate Advisors can be found online at www.leisurerealestate.com.
Founded in 1959, Hotel Brokers International is the industry’s oldest network of hospitality broker professionals. HBI Brokers lead the industry in hotel real estate sales and have successfully negotiated more than 11,000 hotel real estate transactions. The organization’s website features a large inventory of hotel property listings and attracts site visitors from around the world. HBI is the founder and administrator of the Certified Hotel Broker Program, the real estate industry’s only professional designation program for hotel brokers. In addition to hospitality real estate advisory services, HBI offers affiliate membership to professionals in allied fields, including franchising, lending, appraisals, and investment services. For more information about HBI’s hotel listings or to become a broker or affiliate member, visit www.hbihotels.com.
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For more information contact:
Leisure Real Estate Advisors, LLC
Glenda J. Webb, Executive Director
Hotel Brokers International