Marcus & Millichap has announced today the sale of Ramada Cumberland, a 130-room hospitality property located in Cumberland, Maryland, according to Adam Christofferson, regional manager of the firm’s Ontario office. The asset sold for $2,275,000.
Gordon Allred, senior managing director investments in Marcus & Millichap’s Ontario office, alongside Karianne Cibello, senior associate, and Zac Walsh, associate, in Marcus & Millichap’s Washington, D.C. office had the exclusive listing to market the property on behalf of the seller, a limited liability company. The team also secured the buyer, a limited liability company. Adam Christofferson, regional manager, and Bryn Merrey, broker of record, assisted in closing this transaction.
The Ramada Cumberland is located at 100 S. George Street in Cumberland, Maryland. Built in 1972, Ramada Inn is a six-story full-service hotel near several area attractions. The hotel consists of 130 interior corridor rooms with close proximity to Interstate 68 and McCullen Highway. Amenities include free parking, free breakfast, business services, a fitness center, laundry services, and it is pet-friendly.Each guest room is equipped with climate control, bathroom amenities, a flat-screen television, satellite channels, a microwave, mini-fridge, coffee maker, ironing boards and iron, and a work desk with a chair. The property is three miles from the Tri-State Zoological Park and two miles from Allegany College of Maryland.
About Marcus & Millichap (NYSE: MMI)
With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.
