MCR Acquires $11M VA SpringHill Suites
- Apr 20, 2018
MCR has acquired SpringHill Suites by Marriott Richmond North Glen Allen in Glen Allen, Va., for $10.9 million.
Located at 9701 Brook Road, the 136-key hotel offers four floors of guest space. Services include a beauty shop, complimentary breakfast buffet, laundry on-site, free Wi-Fi, valet dry-cleaning, car rental, a fitness center, 300 square feet of meeting space, a 24-hour market, an indoor pool and whirlpool and a business center.
“We are pleased to make this investment in the Richmond area, a region MCR has successfully invested in previously,” said Tyler Morse, CEO & managing partner of MCR, in prepared remarks. “Given the variety of demand generators and the continued investment from major corporations, we believe the property is positioned to generate positive returns for our investors.”
The property is situated at the intersection of interstates 295 and 95, a five-minute drive from major distribution centers for Amazon, Supervalu and FedEx, as well as offices for Capital One, Lowes, Bank of America, Oracle and Markel Corp. Nearby attractions include Kings Dominion Amusement Park, Virginia Museum of Fine Arts, Busch Gardens, Richmond International Raceway, Cobblestones Water Park and the Richmond Coliseum.
Image courtesy of MCR