Lee & Associates Brokers LA-Area Inn Sale
- Jan 03, 2019
Lee & Associates-LA North/Ventura has facilitated the sale of Good Nite Inn, a 102-key courtyard-style hospitality asset in Whittier, Calif. Andy Investment Co. purchased the property from Y&C Pacific for approximately $8 million.
Located at 10317 Whittier Blvd. at the San Gabriel River Freeway west of Norwalk Boulevard, Good Nite Inn sits on a 72,869-square-foot parcel near several retail amenities, including Starbucks, Carl’s Jr., Dollar Tree and Wingstop Restaurant. The inn is within a short drive from Southern California’s major tourist attractions such as Disneyland and Universal Studios Hollywood. Good Nite Inn features a swimming pool.
“This property had been owned by the seller for more than 30 years and there was no franchise agreement in place, so it presented an ideal reposition and rebranding opportunity for a new buyer,” said Warren Berzack, national director of Lee & Associates Multifamily Advisory Group, in a prepared statement. Berzack worked on behalf of both the buyer and the seller in this transaction.
In June, Lee & Associates-LA North/Ventura also facilitated the sale of Space 15 Twenty, a 40,000-square-foot shopping and dining destination along Cahuenga Corridor in California.
Image courtesy of Lee & Associates