CIP Closes Sale of Village Inn in Springfield, Ore.
- Nov 21, 2016
by Adina Marcut
Springfield, Ore.—Crystal Investment Property LLC announced the sale of the Village Inn and Restaurant located at 1875 Mohawk Blvd.
in Springfield, Ore. CIP, a licensed Oregon broker, exclusively represented the seller in the sale. Joseph Kennedy, president of CIP, worked with the seller, buyer and buyer’s broker in order to negotiate the sale. Financial details of the transaction have not been disclosed.
“This property enjoyed an extremely strong level of interest immediately upon bringing it to the market. However, the challenge was to determine which buyer was best qualified to complete the transaction within the parameters required by the seller. We had multiple competing offers and were able to secure not only the highest market price but a capable cash buyer,” Kennedy said in prepared remarks.
The 67-key property is situated near the freeway and includes a casual dining restaurant and shared pool and fitness facilities. It is located just 5 miles from University of Oregon in Eugene. The new owner intends to complete capital improvements, including a renovation of the restaurant and rooms.
Image courtesy of Springfield Village Inn