Hospitality Inn sold
Sidhivinayak LLC recently purchased the 192-room Hospitality Inn and Suites hotel at 4400-88 S. 27th St., Milwaukee, from Graebner Enterprises Inc. for $6.95 million. The sale was brokered by Ronald McCord and Jennifer Church of Oconomowoc-based Milmark Hotel/Motel Investments LLC, a real estate firm specializing in the sale and evaluation of hotel and motel properties. The property consists of two buildings, a five-story building at 4488 S. 27th St., which has 81 rooms and was built in 1989, and a 2-3 story building at 4400 S. 27th St., which has 111 rooms and was originally built in 1961, and later expanded. The property, including both buildings, has an assessed value of $6 million, according to city records. Sidhivinayak LLC, an investors group led by Illinois hotel investor Magan Patel, plans to renovate the buildings, Church said. Patel could not be reached for comment. One of the buildings will be converted into a Rodeway Inn & Suites, Church said. Rodeway Inn is a brand of Silver Spring, Md.-based Choice Hotels International Inc. "I believe the 2 to 3-story building (will be converted to a Rodeway Inn & Suites), because people identify the five-story structure with Hospitality Inn," Church said.
Brown Deer industrial building sold for $3.55 million
Traffic and Parking Control Operations, doing business as TAPCO, recently purchased a 128,000-square-foot industrial building at 5100 W. Brown Deer Road, Brown Deer, from Concours Motors Inc. for $3.55 million. Colliers Barry brokers Kevin Barry and Kurt Van Dyke represented the buyer and the seller in brokering the deal. Concours Motors bought the vacant building with plans to open a Mercedes Benz dealership on the site, but those plans fell through. TAPCO plans to move its operations to the building from Elm Grove. The company is now selling its current 57,000-square-foot facility at 800 Wall St., Elm Grove, with a list price of $2.2 million.
