Springhill Suites by Marriott Sale in Woodway, TX Arranged by Marcus & Millichap

Marriott’s SpringHill Suites Waco Woodway, Woodway, TX

David Greenberg

WOODWAY, TX June 11, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Marriott’s SpringHill Suites Waco Woodway, a four-story, 82-room premier hotel located in Woodway, Texas, part of the Waco metropolitan statistical area.

Chris Gomes, a senior associate, and Skyler Cooper, an associate, both in Marcus & Millichap’s Dallas office, and David Greenberg, a vice president investment in the firm’s Fort Lauderdale office, represented the seller, a Texas based investor.

Jonathan Ruprai

Senior associate Allan Miller of Marcus & Millichap’s San Antonio office and associate Jake Gaddy, of the firm’s Austin office, also provided representation to the seller.

Jonathan Ruprai, a senior associate in Marcus & Millichap’s Tampa office represented the buyer, an investment group from Ohio.

            “The hotel was originally built as a Best Western Atrea in 2009 and was converted to SpringHill Suites Waco Woodway in December 2011,” says Gomes. “Since the conversion to a Marriott franchise, the revenue has continued to increase, providing an exceptional opportunity for the new owners.”

Chris Gomes

            “This transaction speaks to the power of the Marcus & Millichap platform,” says Greenberg. “The listing team was located primarily in Texas, the buyer’s agent is in the firm’s Tampa office and the investor is based in Middlebury Heights, Ohio. Our culture of information sharing was instrumental in arranging an agreement that was amenable to all parties,” concludes Greenberg.

Jake Gaddy

SpringHill Suites Waco Woodway is located at 200 Colonnade Parkway and benefits largely from the corporate room night demand generated by companies such as L3 Communications and Coca-Cola.

In addition, Baylor University is situated approximately seven miles from the hotel and various leisure and entertainment venues are also situated nearby.

Allan Miller

            Amenities include two meeting rooms, a full-service bar, an indoor swimming pool and spa and a fitness center.

            SpringHill Suites Waco Woodway is the 36th individual sale of a hospitality asset brokered by Marcus & Millichap’s National Hospitality Team in 2013.  

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

Ben Johnson

Marketing Director

(925) 953-1736