HOUSTON, TX, November 29, 2022: HVS Brokerage & Advisory announces the sale of the 97-key Quality Hotel Americana Nogales, located at 639 North Grand Avenue, Nogales, Arizona 85621.
The property was sold via an online auction on Ten-X. It was purchased by Nogales Hospitality LLC of Nogales, Arizona, from Lok Group of Companies of Petaluma, California.
Cindy Lok, President of Lok Group of Companies, commented, “We selected the HVS team, led by Eric Guerrero, to represent and guide our sale. Their recommendations were based on extensive depth of knowledge and experience. We were thrilled with the outcome and will definitely use them in the future.”
The property benefits from its strategic location along Business Interstate 19/North Grand Avenue, less than a mile away from the Dennis DeConcini Port of Entry U.S./Mexico border-crossing station in Nogales. Approximately two miles to the southwest, the Mariposa Port of Entry in Nogales is reportedly the most heavily trafficked land port in the nation for commercial trucks, registering an annual $26-billion economic impact on the region.
Maquiladoras, Mexican factories operated by foreign companies, have historically represented a large component of the economy, with more than 100 plants across electronics, aerospace, automotive, biomedicine, and agriculture industries. Nogales also benefits from Mexican shoppers who buy goods and services in the United States.
“This was another seamless execution with the Ten-X platform, which was the best option to maximize proceeds for the seller given the asset and its location in a secondary market. Combined with Ten-X and our marketing efforts, we yielded 13 approved bidders that bid against one another to reach the reserve. Ultimately, the winning bidder was a local investor that saw potential in the asset. The buyer plans to complete an extensive renovation of the property to make it one of the premier hotels in Nogales,” said James Rebullida, Vice President of HVS Brokerage and Advisory.
HVS Brokerage & Advisory team members Eric Guerrero, James Rebullida, Fadi Rawashdeh. and Kyle Peterek participated in this transaction. Jennifer Stein Real Estate, Inc., a licensed Arizona real estate broker, served as broker of record for HVS Brokerage & Advisory.
Media Contact:
Lizzette Casarin
Marketing Director
[email protected]
+1 (720) 244-7620
The property was sold via an online auction on Ten-X. It was purchased by Nogales Hospitality LLC of Nogales, Arizona, from Lok Group of Companies of Petaluma, California.
Cindy Lok, President of Lok Group of Companies, commented, “We selected the HVS team, led by Eric Guerrero, to represent and guide our sale. Their recommendations were based on extensive depth of knowledge and experience. We were thrilled with the outcome and will definitely use them in the future.”
The property benefits from its strategic location along Business Interstate 19/North Grand Avenue, less than a mile away from the Dennis DeConcini Port of Entry U.S./Mexico border-crossing station in Nogales. Approximately two miles to the southwest, the Mariposa Port of Entry in Nogales is reportedly the most heavily trafficked land port in the nation for commercial trucks, registering an annual $26-billion economic impact on the region.
Maquiladoras, Mexican factories operated by foreign companies, have historically represented a large component of the economy, with more than 100 plants across electronics, aerospace, automotive, biomedicine, and agriculture industries. Nogales also benefits from Mexican shoppers who buy goods and services in the United States.
“This was another seamless execution with the Ten-X platform, which was the best option to maximize proceeds for the seller given the asset and its location in a secondary market. Combined with Ten-X and our marketing efforts, we yielded 13 approved bidders that bid against one another to reach the reserve. Ultimately, the winning bidder was a local investor that saw potential in the asset. The buyer plans to complete an extensive renovation of the property to make it one of the premier hotels in Nogales,” said James Rebullida, Vice President of HVS Brokerage and Advisory.
HVS Brokerage & Advisory team members Eric Guerrero, James Rebullida, Fadi Rawashdeh. and Kyle Peterek participated in this transaction. Jennifer Stein Real Estate, Inc., a licensed Arizona real estate broker, served as broker of record for HVS Brokerage & Advisory.
About HVS Brokerage & Advisory
The Brokerage & Advisory division is a specialized group within HVS that offers services related to investment sales and capital markets, focused exclusively on the hospitality industry. With a global footprint and over 40 offices nationwide, HVS’s hospitality intelligence and extensive expertise will help you achieve the results you want.Media Contact:
Lizzette Casarin
Marketing Director
[email protected]
+1 (720) 244-7620