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Brokerage
Posted: July 23, 2008
Wason Associates brokers $2m sale of Sandy Bay Motor Inn
Wason Associates Hospitality Real Estate Brokerage Group has handled the sale of the 79 room Sandy Bay Motor Inn located on Main St., Rte. 127, in the historic seaport town of Rockport. The selling price was in excess of $2 million.
The Inn was sold by Lakeview Realty Trust to Local Yokel, LLC in early June. The new owners plan to make substantial improvements to the Inn, which has been closed for some time. Wason Associates brokered the property's sale.
Located approximately a half-mile from downtown, Sandy Bay is one of the largest lodging facilities in the town. Rockport is a popular destination resort town and is just an hour's drive north of Boston and has a plethora of shopping and dining establishments.
"The historic town of Rockport has a lot to offer," states Earle Wason, president of Wason Associates. "Sandy Bay has great potential and we are sure that the improvements planned for the Inn and barriers to entry in Rockport will help establish one of the top resort hotel properties on Boston's North Shore."
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