NAI Vegas Sells Red Roof Inn Las Vegas

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Las Vegas, NV (03/07/2022) – NAI Vegas is pleased to announce the sale of the historic, 199-room, Red Roof Inn Las Vegas. The property sold for $22,500,000.

Red Roof Inn Las Vegas is located in the heart of Las Vegas’ convention corridor, connecting Harry Reid International Airport to the Las Vegas Convention Center. The ±68,000 square foot hotel sits on 3.06 acres and was originally constructed in 1976, with subsequent renovations completed in 2001 and 2018.

Anders Graciano, Vice President of Hospitality at NAI Vegas, handled the sale and exclusively represented the seller in the transaction.

“This wasn’t your typical hotel deal due to the proposed conversion to multifamily,’ stated Graciano. ‘It was a rather lengthy process that included planning commission hearings, FAA review, public works, architects and more, before the deal could be closed.”

“Anders created this deal from scratch,’ stated James McKeller, whose family originally developed the property. “Anders saw a conversion play where others only saw a hotel play. He was instrumental in the consummation of a difficult but rewarding sale for both buyer and seller.”  The buyers, Ben Zlotnick and Mark Zolty, added, “We’re very happy with this deal and excited about the asset.  Anders was exceptional in how he handled every roadblock – this deal wouldn’t have happened without him.”

The buyers plan to upgrade the property and convert the units into studio apartments.

 

Anders Graciano - Hospitality & Multifamily specialist in Las Vegas, Nevada

Anders Graciano

Anders Graciano is the Vice President of NAI Vegas Hospitality Investment Group.  Anders Graciano has an extensive background in international business consulting and commercial real estate. Mr. Graciano was born and raised in Copenhagen, Denmark. After attending business school, he worked in sales for 8 years including 3 years as head of sales for a large German I.T. distribution company, which lead him to join the Danish branch of a US I.T. distribution company.

About NAI Vegas and NAI Excel

NAI Excel and NAI Vegas are leading providers of Commercial Real Estate Services in the West. Operating as NAI Vegas in Nevada, and NAI Excel in Utah and Idaho, we are part of the NAI Global network covering nearly every major market nationally and across the globe. Serving both urban and rural markets, we leverage our resources to help you excel in your real estate goals. When you work with one of our team, you get the benefit of working with all of us.

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