Mumford Company Sells Super 8 in Chesapeake, VA
15th Super 8 for Multi-unit Operator
Newport News, VA - March 11, 2011 - The Mumford Company structured the recent sale of the Super 8 of Chesapeake, Virginia to Jay Mahalaxmi, LLC; a local operator. This is the 15th property that Mumford Company has sold on behalf of this ownership group in the past decade and is part of a strategic disposition program recently implemented by the sellers.
The purchasers plan to make cosmetic renovations to the hotel and continue their Super 8 franchise affiliation.
Chesapeake is centrally located in the Hampton Roads-Tidewater region, the 36th largest MSA in the country. The property is proximate to numerous military installations and area tourism attractions. The Super 8 is a 58 room, 3 story facility that is in excellent physical condition.
David Mumford with the Mumford Company's Newport News, Virginia office represented the seller.
Mumford Company's commitment to results-oriented customer service has yielded outstanding client results for over 33 years. With its' experienced sales team in four regional offices across the country, Mumford Company is a leader in the sale of mid-market and economy hotels. For more information contact Mumford Company at (757) 873-0962.
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