{"id":1004178288,"date":"2017-05-25T10:51:37","date_gmt":"2017-05-25T18:51:37","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004178288"},"modified":"2022-12-08T20:49:03","modified_gmt":"2022-12-09T04:49:03","slug":"cip-sells-econolodge-hotel","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cip-sells-econolodge-hotel\/","title":{"rendered":"CIP Sells EconoLodge Hotel"},"content":{"rendered":"<p>By Adina Marcut<\/p>\n<div id=\"attachment_1004178290\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/EconoLodge.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004178290\" data-attachment-id=\"1004178290\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cip-sells-econolodge-hotel\/econolodge\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/EconoLodge.jpg\" data-orig-size=\"800,640\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"EconoLodge\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/EconoLodge.jpg?w=800\" class=\"wp-image-1004178290 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/EconoLodge.jpg\" alt=\"EconoLodge Hotel\" width=\"300\" height=\"240\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/EconoLodge.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/EconoLodge.jpg?resize=300,240 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/EconoLodge.jpg?resize=768,614 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004178290\" class=\"wp-caption-text\">EconoLodge Hotel<\/p><\/div>\n<p>Crystal Investment Property LLC secured the sale of EconoLodge, a 44-key hotel in Newport, Ore., for an undisclosed price. The company, a member of Hotel Brokers International, represented the buyer. CIP\u2019s President, Joseph Kennedy, worked with the buyer and the seller to negotiate a mutually acceptable sale.<\/p>\n<p>Located at 606 SW Coast, adjacent to Highway 101, the hotel is just minutes away from Nye Beach, the Oregon Coast Aquarium and the Yaquina Bay Lighthouse. A various number of dining options are within a five-minute walk.<\/p>\n<p>EconoLodge features amenities such as a free continental breakfast, free Wi-Fi, outdoor parking for buses and trucks and in-room coffee makers. The hotel also accommodates pets.\u00a0Back in April, CIO closed the sale of another hotel on the West Coast, a <a href=\"https:\/\/www.commercialsearch.com\/news\/cip-sells-oregon-hotel\/\">27-key property<\/a>\u00a0in Florence, Ore.\u00a0<\/p>\n<p>\u201c<em>The EconoLodge in Newport was ideally suited for our buyer client who was in a 1031 Exchange. With strong financials and ideal owner accommodations, this was the perfect opportunity for this experienced hotelier to move to an idyllic spot on the Oregon coast,\u201d<\/em> said Joseph Kennedy, in prepared remarks.<\/p>\n<p><em>Image courtesy of Choice Hotels<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hotel Brokers International\u2019s member Crystal Investment Property closed the sale of a 44-key motel near Nye Beach in Newport, Ore. The final price was not disclosed. <\/p>\n","protected":false},"author":436,"featured_media":1004178290,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21751,21742,28440,15],"tags":[34737,34738,35786],"class_list":["post-1004178288","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-hotel","category-latest","category-portland","category-west","tag-crystal-investment-property-llc","tag-hotel-brokers-international","tag-joseph-kennedy"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>CIP Sells EconoLodge Hotel - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/cip-sells-econolodge-hotel\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CIP Sells EconoLodge Hotel\" \/>\n<meta property=\"og:description\" content=\"Hotel Brokers International\u2019s member Crystal Investment Property closed the sale of a 44-key motel near Nye Beach in Newport, Ore. 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