Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of San’s Boutique Hotel & Suites, a 40-room hotel property located in Savannah, Georgia. The actual sale price is undisclosed, but it traded for over $81,000 per room.

Joe Simpson, an associate with the DDM Hotels Group of Marcus & Millichap, had the exclusive listing to market the property on behalf of the seller, in addition to procuring the buyer.

“I am very pleased to have represented the seller in the disposition of his long-time independent hotel,” says Simpson. “It was a seamless transaction involving a buyer who was fulfilling a 1031 exchange obligation from a separate deal we successfully closed.”

San’s Boutique Hotel & Suites is located at 480 Al Henderson Boulevard in Savannah. Built in 2006 on one acre of land, it is conveniently located off Interstate 95, within 15 miles of historic Downtown Savannah and all top demand generators.