Industries Commercial Real Estate

Two hotels change hands in Hampton Roads

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A Quality Inn hotel located at the main gate of the Norfolk Naval Air Station has a new owner.  Silver Bay LLC, a Central Virginia-based hotelier, paid $3.2 million for the 120-unit property.
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The Mumford Co. in Newport News negotiated the transaction on behalf of the seller — a major national loan servicing organization. According to Mumford, Silver Bay plans to renovate the hotel and keep the Quality Inn franchise.

In another transaction, Cushman & Wakefield | Thalhimer brokered the sale of a Days Inn Hotel at 720 Lightfoot Road in Williamsburg. Lightfoot Road Hospitality LLC purchased the 120-unit hotel situated on 2.9 acres from Southeastern Virginia Investment Properties LLC for $1.8 million. According to Thalhimer, the buyer intends to renovate and continue to operate the hotel.
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