DENVER, CHICAGO, & MINNEAPOLIS—HREC Investment Advisors announced it has arranged the sale of the 111-room Hampton Inn Cadillac located in Cadillac, Michigan.
HREC Investment Advisors represented Kushman Hotels Group on this transaction. The marketing and negotiations were led by Scott Kaniewski (managing director—Chicago), Lee Kerfoot (vice president—Minneapolis), and Taylor Ponath (salesperson—Minneapolis), as well as Michael Blahosky, corresponding broker and Broker on Record for Michigan.
“The HREC team of Scott Kaniewski, Lee Kerfoot, and Taylor Ponath did an excellent job selling another hotel for us. We appreciate all of their hard work to sell the Hampton Inn,” said Kris Virani, president of Kushman Hotels Group.
The hotel is located near several of Cadillac’sleisure demand generators such as the White Pine Trail, Lake Cadillac, and Lake Mitchell; several state parks such as William Mitchell State Park, Huron-Manistee National Forests, and Pere Marquette State Forest; and the Caberfae Ski Resort. Commercially, the hotel is proximate to the Munson Healthcare Cadillac Hospital, downtown Cadillac, and Cadillac’s three major manufacturing parks: Cadillac Industrial Park, Potvin Industrial Park, and VanderJagt Industrial Park.
Due to its location in the northwest corner of Michigan’s Lower Peninsula, Cadillac has a variety of recreational demand generators from the area. Lake Cadillac and Lake Mitchell are in the region, allowing not only for moderate commercial usage but also providing approximately 3,700 acres of boating, fishing, other water activities, and snowmobiling in the winter. William Mitchell State Park, Evergreen Golf Course, and Cadillac Country Club are all located proximate to the water and the property and are some of the area’s demand generators. The city of Cadillac has received designation and is identified as a Pure Michigan Trail Town of which it shares this title with 11 other Michigan cities due to being the home of the White Pine Trail. Nearby are the state forests of the Manistee portion of the Huron-Manistee National Forest (home to Caberfae Ski/Golf Resort) and Pere Marquette State Forest.