Press Releases
Marcus & Millichap Brokers Sale of 128-Room Hospitality Asset in Melbourne
March 03, 2025
MELBOURNE, Fla., Mar. 3, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Holiday Inn Melbourne Viera, a 128-room hotel located in Melbourne, Florida.
“There was considerable out-of-area and out-of-state interest, primarily due to the economics of the Space Coast, which make it easy to underwrite growth,” said Robert Hunter, senior managing director investments. “Ultimately, local market dynamics and the buyer’s confidence in the brand drove them to win the bid and close.”
Hunter and Leo Reilly, investment specialists in Marcus & Millichap’s Fort Lauderdale office, exclusively marketed the property on behalf of the seller and procured the buyer.
The five-story hotel was built in 1991 and sits on 7.15 acres directly off Interstate 95, providing accessibility to major business hubs and attractions, including the USSSA Space Coast Sports Complex, Brevard Zoo, Patrick Space Force Base, and Melbourne-Orlando International Airport. The hotel features 7,800 square feet of meeting space, an on-site restaurant, a business center, a fitness center, and an outdoor pool.
“There was considerable out-of-area and out-of-state interest, primarily due to the economics of the Space Coast, which make it easy to underwrite growth,” said Robert Hunter, senior managing director investments. “Ultimately, local market dynamics and the buyer’s confidence in the brand drove them to win the bid and close.”
Hunter and Leo Reilly, investment specialists in Marcus & Millichap’s Fort Lauderdale office, exclusively marketed the property on behalf of the seller and procured the buyer.
The five-story hotel was built in 1991 and sits on 7.15 acres directly off Interstate 95, providing accessibility to major business hubs and attractions, including the USSSA Space Coast Sports Complex, Brevard Zoo, Patrick Space Force Base, and Melbourne-Orlando International Airport. The hotel features 7,800 square feet of meeting space, an on-site restaurant, a business center, a fitness center, and an outdoor pool.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
