Cushman & Wakefield | Thalhimer reports the sale of the Lexington Hotel at 500 Merrimac Trail (Rt. 143) in Williamsburg. Merrimac Partners LLC purchased the 250-unit hotel on 6.4 acres from LGWI LLC for $1.5 million. According to Thalhimer, the buyer is considering alternative uses for the property. David Butchello of Cushman & Wakefield | Thalhimer handled sale negotiations on behalf of the seller.
In another hotel sale brokered by Butchello, the 120-unit Days Inn at 331 Bypass Road was sold to Bypass Road Hospitality LLC for $1.2 million. The buyer intends to renovate and operate the hotel. The seller was Southeastern Virginia Investment Properties.
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