Address: 4725 W Military Hwy.Chesapeake
City:
State: VA
ZIP: 23321
Rooms #: 52
Additional Features:
Mumford Company is pleased to once again have represented affiliates of Allen Management in the sale of the Econo Lodge of Chesapeake, Virginia to Sita Properties, LLC, a local owner/operator group. The deal was structured by David Mumford
The purchasers plan to make extensive renovations to the property and convert it to a Motel 6 franchise over the course of the coming year. This is the 3rd hotel that Mumford Company has sold to principals of Sita Properties.
The 52 room property is situated in a strong eastern Virginia metropolitan market amongst 3 interstate exchanges, within 2 miles of Norfolk International airport and numerous other local demand generators.
A proven leader in the field of hotel real estate brokerage, Mumford Company’s commitment to results-oriented customer service has yielded outstanding client results year after year. As a specialist in mid-market assets, Mumford Company has structured the sale of hundreds of hotels in the past five years alone, representing a wide array of owners and investors. For more information or to view current listings, please call (757) 873-0962.