Richmond All-Suite Hotel Sells for $9M
- Feb 13, 2018
A joint venture between 4115 Old Woodlawn LLC and Hopewell-Oaklawn LLC has sold the 108-key Stay Over Suites hotel in Hopewell, Va. Touchstone Place LLC purchased the property for $8.5 million.
Stay Over Suites is situated on a 4.4-acre parcel at 4115 Old Woodlawn St., within a 30-minute drive south of downtown Richmond, Va. The site is adjacent to Interstate 295, providing easy access to the Richmond International Airport, which is an approximately 20-minute drive away.
The two-building asset was completed in 2008 and comprises 80,400 square feet. Stay Over Suites provides a variety of standard, luxury or luxury executive suites. Amenities include:
- 24-hour front desk
- kitchen in all rooms
- handicap rooms with roll-in showers
- fitness room
- gas grills and patio area
- coin operated guest laundry
- business center
David Butchello, vice president of Hospitality at Cushman & Wakefield | Thalhimer’s Hampton Roads, Va. office brokered the transaction on behalf of the seller.
Last June, another Richmond metro area hotel opened its door to guests. Owner Hospitality Group invested in the complete renovation and rebranding of the 101-key Holiday Inn Express Chesapeake-Norfolk.
Image courtesy of Cushman & Wakefield | Thalhimer