123-Room Hampton Inn in Austin, TX Sold by Marcus & Millichap

Hampton Inn, 4141 Governors Row, Austin, TX

Allen Miller

AUSTIN, TX – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of a six-story 123-room Hampton Inn hotel in Austin, Texas. The terms of the sale were not released.

            Allan Miller, an associate vice president investments in Marcus & Millichap’s San Antonio office, Chris Gomes, a senior associate in Dallas and Jake Gaddy, an associate in Austin, represented the seller, a joint venture between a California family trust and a Texas-based private investor.

David Greenberg, a vice president investments in the firm’s Fort Lauderdale office, advised the buyer, Moody National REIT 1 Inc.

Chris Gomes

            “Assets like this Hampton Inn rarely become available in Austin,” says Miller. “This is a premier franchise in one of the fastest-growing cities and hotel markets in the country,”

            “The hotel’s 10-year franchise was renewed with Hilton Hotels & Resorts in July 2012,” adds Greenberg.

            The property is located at 4141 Governors Row in Austin off the intersection of Interstate 35 and Texas State Highway 71, six miles from Austin-Bergstrom International Airport.

Jake Gaddy

The location is five minutes south of downtown Austin, near the city’s premier nightclub district and 10 miles from a new Formula One racetrack.

            The hotel was built in 1997 and extensively renovated in 2012. It features an eclectic lobby/common area. Amenities include a 430-square-foot meeting room, a business center and an outdoor swimming pool.

            Together, Miller, Gomes, Gaddy and Greenberg sold 27 hotels in 2013 valued at $169 million. Located in seven states: Florida, Texas, Arkansas, Tennessee, Oklahoma, South Carolina and New Mexico.

The assets included full-service, select-service and extended-stay hotels; brands including Marriott, Hilton, Hyatt, Best Western, Choice Hotels International and Wyndham Worldwide; and boutique and independent hotels. 

David Greenberg

            “We expect 2014 to be a record year for hotel transactions,” concludes Greenberg, “With our unique value proposition, Marcus & Millichap will undoubtedly continue to be the dominant hotel broker in the nation.”

For a complete copy of the company’s news release, please contact:

 Gina Relva

Public Relations Manager

(925) 953-1716