Snyder Structures Sale of Sunnyvale Radisson
PHOENIX, AZ, December 18, 2006. Snyder Nationwide Real Estate, Inc. today announced the sale of the 136-room, full-service Radisson Inn Sunnyvale, located in the heart of Silicon Valley at 1085 E. El Camino Real in Sunnyvale, California. Snyder Nationwide Real Estate, based in Phoenix, Arizona, represented the buyer, Sunnyvale CSG, LLC. The seller was a local real estate investor.
Sunnyvale CSG, LLC has selected Joie de Vivre Hospitality to manage the hotel, which will undergo a renovation in excess of $3 million after which it will be repositioned as a non-branded, boutique hotel providing a cutting edge, high-tech environment.
Snyder Nationwide Real Estate, a longstanding, international, hotel brokerage firm, negotiated the all-cash transaction. Mark T. Snyder, President, stated "We saw significant upside potential in the repositioning the hotel, offering a more upscale product and the amenities of a lifestyle, business hotel."
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