Crystal Investment Property, LLC, (“CIP”) a member of Hotel Brokers International, announced the successful sale of the Atomic Motel in Astoria, Oregon. CIP, a licensed Oregon brokerage, represented the Seller in the sale. Joseph P. Kennedy, President of CIP, worked closely with the Seller and Buyer, as well as the parties’ other professionals, to negotiate a mutually acceptable sale. The final sale price is confidential.
The Atomic Motel is a 29 key, select service, exterior corridor motel featuring extensive upgrades in the heart of the destination town of Astoria, Oregon. Situated just 90 minutes from major Portland Metro area and Portland International Airport this Northern Oregon Coast town is considered to be a premiere weekend getaway spot for the Pacific Northwest. The property is located is just steps from the Astoria River Walk and Columbia River Waterfront Trolley, offers dedicated parking, and is restaurant adjacent, making it a highly attractive motel for leisure and business travelers. Property features recent comprehensive Capital Improvements and rebranding. This updated motel has strong financials and excellent cash flow.
Joseph Kennedy, President of CIP said, “We were pleased to be able to generate a strong offer for the Estate selling the property with a local hotelier who understands both the market and the demographics of the hotel. We wish the new owner the best of luck with his latest project and look forward to his continuing the legacy of the late owner who was well-loved in the community.”
About Crystal Investment Property, LLC
Crystal Investment Property, a premier hospitality investment advisory and brokerage company located in the Pacific Northwest, maintains the most cutting-edge technological, online and social media presence as well as a full range of traditional and web-based marketing reaching local, regional, national and international clientele. The firm’s core services of hospitality asset acquisition/disposition are supported by innovative and creative solutions to maintain position as the most active and successful hotel broker in the region. Crystal Investment Property represents the full spectrum of hospitality real estate owners and their experience covers all hospitality assets types, including full service hotels, boutique hotels, select service hotels, limited service hotels, as well as development projects, and leasehold transactions. Crystal Investment Property may be accessed online at www.crystalip.com.
About Hotel Brokers International
Founded in 1959, Hotel Brokers International members lead the industry in hotel real estate sales. HBI hotel brokerage specialists have successfully negotiated more than 10,000 hotel real estate transactions and consistently account for the largest share of all select-service and economy hotel sales in the United States. The organization’s database currently comprises more than 100 property listings and the HBI website attracts site visitors from around the world. Founder and host of the popular Hotel Investor’s Marketplace Webcast, HBI also developed the Certified Hotel Broker professional designation program. In addition to hospitality real estate advisory services, HBI offers affiliate membership to professionals in allied fields, including franchising, lending, appraisals and investment services. For more information about HBI’s hotel listings or to become a broker or affiliate member, visit www.hbihotels.com.
For more information contact:
Joseph P. Kennedy, President
Crystal Investment Property, LLC
Glenda J. Webb, Managing Director
Hotel Brokers International
Kansas City, Missouri
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