Address: 5408 Williamsburg RoadRichmond
City:
State: VA
ZIP: 23150
Rooms #: 53
Additional Features:
The Mumford Company was pleased to once again represent affiliates of Allen Management in the recent sale of the Econo Lodge Airport of Richmond, Virginia to Sita Properties, LLC. This is the 11th transaction that Mumford has facilitated on behalf of the sellers in the past 2 years and is the 3rd property that the purchasers have acquired through Mumford.
The purchasers plan to make cosmetic renovations to the hotel and retain the Econo Lodge franchise affiliation. Located in the Virginia state capitol of Richmond, the 53-room hotel sits within 7 miles of most major area demand generators. Adjacent to the Richmond International Airport, as well as the nearby industrial park the hotel also receives demand from the active Richmond International Raceway.
David Mumford, a Principal in the firm’s Newport News office and Steve Kirby, a Principal in Mumford Company’s Atlanta Georgia office negotiated the transaction on behalf of the seller.
Mumford Company is a hotel real estate brokerage firm with a commitment to results-oriented customer service that has accomplished over 800 completed transactions in its nearly 34-year history. With its’ experienced sales team in four regional offices across the country, Mumford Company is a leader in the sale of mid-market and economy hotels. For more information contact Mumford Company at (757) 873-0962.
