The Howard Johnson Plaza Hotel — Miami Airport has changed hands, a sign that the hot Miami-Dade hotel market isn’t limited to the east part of the county.
CBRE Hotels, which arranged the transaction, announced the sale of the 259-room property at 7707 NW 103rd St. this week.
LCP Hialeah Gardens Hospitality, which is affiliated with Massachusetts-based Linchris Hotel Corporation, bought the 10-story hotel. It does not have to remain under the previous brand or management. GW Hialeah Hotel was the seller.
CBRE Hotels did not disclose the purchase price, but the South Florida Business Journal reported that it sold for $21.9 million. The property last traded for $16.2 million in 2008.
“This was a very competitive sale process during which we uncovered exceptionally strong interest for this asset, with investors recognizing the exceptional location and the strength of the local lodging market,” said Paul Weimer, part of the CBRE Hotels team that represented the seller, in a statement.
The Hialeah Gardens property, which includes more than 10,500 square feet of flexible meeting space, sits on more than four acres just west of the Palmetto Expressway.