Page 6 —
COLORADO REAL ESTATE JOURNAL
— November 19-December 2, 2014
by Jill Jamieson-Nichols
Quality Inn hotels in Cen-
tennial and Louisville recently
changed hands in deals han-
dled by Marcus & Millichap.
A buyer in a 1031 exchange
paid $4.6 million for the
68-room hotel at 1196 W. Dil-
lon Road in Louisville. The
property sits along the Den-
ver-Boulder turnpike and is
ranked among the top Quality
Inn hotels nationwide, accord-
ing to Marcus & Millichap. The
buyer and seller weren’t dis-
closed.
The price represented 96 per-
cent of the list price.
“This is another example of
the significant levels of activity
driving the hotel investment
sales market,” said Gregory A.
LaBerge, director of Marcus &
Millichap’s National Hospital-
ity Group.
Neville Rustomjee of Mar-
cus & Millichap’s Denver office
handled the transaction.
Rustomjee
also handled
the sale of the
62 Quality
Inn-Denver
Tech Center
at 9799 E.
Geddes Ave.
in Centenni-
al. The $2.65
million sale
represented
93 percent of the list price.
s
As 2014 draws to a close the word that comes
to mind is “grateful.” We’ve had the opportunity
to work with great people on great projects in
great communities. We’ve formed many new
relationships and strengthened existing ones and
for that... we are very grateful. To our clients, our
colleagues and our communities—everyone here
at Redland Thanks You and wishes you the best
in 2015!
Go to redland.com or call us at 720.283.6783
T
H
A
N
K
Y
O
U
GREAT PROJECTS
GREAT
PEOPLE
GREAT COMMUNITIES
Greater Denver
CoStar Group
The hotel at 9799 E. Geddes Ave. in Centennial was one of two Quality
Inns recently sold by Neville Rustomjee of Marcus & Millichap.
Neville Rustomjee
by Jill Jamieson-Nichols
A local commercial real estate
firm is in a growth mode after
teaming up with the largest
broker-owned company in the
nation to become Lee & Associ-
ates Denver.
John Bitzer, formerly of Bitz-
er Real Estate Partners, will
lead the new
office – Lee
& Associates’
51st office in
the
nation
– as manag-
ing broker.
JR Bitzer and
Ron Webert
are principals
in the firm.
“We
are
very proud of our expansion
into the Denver market with
this
out-
s t a n d i n g
g r o u p , ”
said Jeffrey
Rinkov, Lee
&
Associ-
ates
CEO.
“We believe
we have the
best profes-
sionals in the
market. They
bring an incredible amount of
experience and knowledge of
the Denver market, which is
crucial in our expansion plans
and our links to our other 50
offices.”
John Bitzer said recruiting
experienced office, industrial
and retail brokers interested
in the ownership opportunities
that Lee provides is a top pri-
ority. “The more good people
Jeffrey Rinkov
John Bitzer
