{"id":1004202700,"date":"2018-01-08T06:44:30","date_gmt":"2018-01-08T14:44:30","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004202700"},"modified":"2022-12-09T00:49:16","modified_gmt":"2022-12-09T08:49:16","slug":"tpi-hospitality-sells-southern-mn-hotel","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/tpi-hospitality-sells-southern-mn-hotel\/","title":{"rendered":"TPI Hospitality Sells Southern MN Hotel"},"content":{"rendered":"<p>By Jeff Hamann<\/p>\n<div id=\"attachment_1004202702\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Holiday-Inn-Austin-Conference-Center.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004202702\" data-attachment-id=\"1004202702\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/tpi-hospitality-sells-southern-mn-hotel\/holiday-inn-austin-conference-center\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Holiday-Inn-Austin-Conference-Center.jpg\" data-orig-size=\"400,310\" 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=\"Holiday Inn Austin Conference Center\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Holiday Inn Austin Conference Center&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Holiday-Inn-Austin-Conference-Center.jpg?w=400\" class=\"wp-image-1004202702 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Holiday-Inn-Austin-Conference-Center.jpg\" alt=\"Holiday Inn Austin Conference Center\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Holiday-Inn-Austin-Conference-Center.jpg 400w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Holiday-Inn-Austin-Conference-Center.jpg?resize=300,233 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004202702\" class=\"wp-caption-text\">Holiday Inn Austin Conference Center<\/p><\/div>\n<p>TPI Hospitality has sold the Holiday Inn Austin Conference Center in Austin, Minn. The property includes a 118-key hotel and a 10,000-square-foot conference center. A connected sports bar was also included in the sale. Jon Ruzicka and Gordon Allred led the Marcus &amp; Millichap team that represented the seller and procured the buyer for the transaction.<\/p>\n<p>Located at 1701 Fourth St. N.W., the two-story property sits alongside Interstate 90, one mile west of Hormel Food Corp.\u2019s headquarters and the Hormel Institute. The hotel is also approximately one mile north of the SPAM Museum in Austin\u2019s city center. Originally built in 1989 by TPI Hospitality, the building\u2019s guestrooms and common areas were renovated in 2011. Amenities include complimentary Wi-Fi, a 24-hour fitness center, a swimming pool and a business center. A sports bar for both hotel guests and the general public is also located on-site.<\/p>\n<p><em>\u201cThe hotel features 118 guestrooms and has been a staple in the community since it opened in 1989. It had been maintained extremely well and was still owned by the original developer,\u201d<\/em> said Ruzicka, first vice president of investments, in a prepared statement.<\/p>\n<p>Marcus &amp; Millichap\u00a0also closed a $4.3 million <a href=\"https:\/\/www.commercialsearch.com\/news\/marcus-millichap-arranges-sale-of-minneapolis-restaurant\/\">retail property sale<\/a>\u00a0in Minneapolis last summer.<\/p>\n<p><em>Image courtesy of Marcus &amp; Millichap<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 118-key hotel includes 10,000 square feet of conference space and a number of guest amenities such as a fitness center, complimentary Wi-Fi and an on-site sports bar.<\/p>\n","protected":false},"author":861,"featured_media":1004202702,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21751,13,21742],"tags":[38771,34454,34836],"class_list":["post-1004202700","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-hotel","category-midwest","category-latest","tag-gordon-allred","tag-holiday-inn","tag-marcus-millichap"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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