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| Chris Gomes |
DENTON, TX, Aug. 26, 2014 – Marcus & Millichap (NYSE:
MMI), a leading commercial real estate investment services firm with offices
throughout the United States and Canada, today announced the sale of two hospitality
properties in Denton, Texas.
They are the 88-room La Quinta Inn & Suites and
the 92-room Holiday Inn Express & Suites.
Chris
Gomes, vice president investments in Marcus & Millichap’s Dallas
office, and Allan Miller, vice president investments in the firm’s San
Antonio office, represented the seller, a Dallas-based company. The buyer is
private high net-worth individual also based in Dallas.
“The
hotel market in Denton, and in the Dallas/Fort Worth Metroplex in general, have
been experiencing tremendous growth in revenue per available room,” says Gomes.
“Both of these assets have demonstrated increased revenue trends.”
 |
| Allan Miller |
The La Quinta Inn & Suites is located at
4465 Interstate 35. It is accessible from Interstate 35 and University
Drive/U.S. Highway 380. Built in 2010, the four-story, interior corridor hotel
features a mix of single- and double-bed rooms, a breakfast area, an indoor
swimming pool with hot tub, two guest elevators and an exercise room.
Built in
2010 at 4485 North Interstate 35, the Holiday Inn Express & Suites is an
interior corridor mid-scale hotel with visibility and accessibility along Interstate
35.
The University of North Texas and Texas Woman’s University
are nearby, as are a Federal Emergency Management Agency office and businesses
such as Peterbilt, Sally Beauty Supply, Acme Brick Co., Tetra Pak and Fastenal.
For a complete
copy of the company’s news release, please contact:
Gina Relva
Public Relations Manager
(925) 953-1716
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