Best Western Plus hotel up for sale through online auction

Best Western Plus hotel up for sale through online auction

Sterling Heights' 246-room, full-service hotel "Best Western Plus" is up for sale through an online auction scheduled to take place on 24th of October this year.

The auction process is being managed by Los Angeles-based commercial real estate services & investment firm CBRE Auction Services. The opening bid for the hotel is $2 million or around $8,130 per room. Use of the Best Western name is subject to approval by Best Western International Inc.

Douglas Johnson, the managing director of CBRE Auction Services, said, "The opening bid is designed to attract attention. I expect that we're going to see significant interest in the site, given that we're talking about almost 14 acres of land with tremendous redevelopment opportunities."

An initial bidding registration deposit of $150,000 is required to participate in the auction. Prior appointments are required to take a tour of the property.

Located at 34911 Van Dyke in Sterling Heights, Best Western Plus is currently running under the management of Midas Hospitality. Midas Hospitality, which owns, operates and develops hotels, has a portfolio of twenty hotels in around a dozen of states serving six global brands.

Surrounded by many national and international corporations like Ford, Chrysler and General Dynamics, Best Western Plus generates stable mid-week activity, mainly from the business community. In addition, its 32,000-sq. ft. water park and 15,000-sq. ft. ballroom regularly draws leisure guests.

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