Press Releases
Marcus & Millichap Brokers $12.9M Sale of AVID Hotel Property in Summerville, S.C.
April 14, 2025
SUMMERVILLE, S.C., April 14, 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 a 95-room AVID hotel property in Summerville, South Carolina for $12.9 million.
“This sale demonstrates continued investor confidence in high-quality, limited-service assets, especially in strong-growth markets like Summerville,” said Jack Davis, senior vice president investments. “Closing at a sub-8 percent cap rate, this transaction highlights both the strength of the asset and the long-term potential for future growth in the region. It also marks our 15th hotel sale in the Charleston area over the past 36 months.”
Davis, Sam Gardner, Chase Dewese, Chris Gomes, Skyler Cooper, Joce Messinger and Allan Miller, investment specialists from Marcus & Millichap, had the exclusive listing to market the property on behalf of the seller. Davis, Messinger and Dewese procured the buyer.
Built in 2021, the AVID Hotel Summerville is strategically located directly off interstate-26 located at 301 Holiday Drive. The property is 2.3 miles from downtown Summerville and 23 miles from downtown Charleston.
“This sale demonstrates continued investor confidence in high-quality, limited-service assets, especially in strong-growth markets like Summerville,” said Jack Davis, senior vice president investments. “Closing at a sub-8 percent cap rate, this transaction highlights both the strength of the asset and the long-term potential for future growth in the region. It also marks our 15th hotel sale in the Charleston area over the past 36 months.”
Davis, Sam Gardner, Chase Dewese, Chris Gomes, Skyler Cooper, Joce Messinger and Allan Miller, investment specialists from Marcus & Millichap, had the exclusive listing to market the property on behalf of the seller. Davis, Messinger and Dewese procured the buyer.
Built in 2021, the AVID Hotel Summerville is strategically located directly off interstate-26 located at 301 Holiday Drive. The property is 2.3 miles from downtown Summerville and 23 miles from downtown Charleston.
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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.
