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| Holiday Inn Express Hotel & Suits, 125 Airtex Drive, North Houston, TX |
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| Jake Gaddy |
HOUSTON, TX, Dec. 8, 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 a
two-building, 109-room Holiday Inn Express Hotel & Suites in
Houston. The terms of the sale were not released.
Jake
Gaddy, senior associate and Steve Swenholt, associate, both in Marcus &
Millichap’s Austin office, represented the seller, a Houston-based developer.
Chris Gomes, vice president investments in the firm’s
Dallas office, along with Allan Miller, vice president investments in
San Antonio, represented the buyer, a Dallas-based private client.
“As the
hotel is still in ramp-up mode after its conversion to a Holiday Inn Express
& Suites, it presents the new owner with significant upside potential,”
says Gomes.
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| Chris Gomes |
Built in
1999 and converted into a Holiday Inn Express & Suites in early 2012, the
three-story hotel is located in North Houston at 125 Airtex Drive, five miles from
George Bush Intercontinental Airport.
Amenities include an outdoor pool and whirlpool, fitness
center, on-site guest laundry, business center, meeting room and complimentary
hot breakfast.
All suites and guest rooms feature flat-screen cable television,
microwave oven, mini-refrigerator, coffee maker, sofa-bed, iron with ironing
board and work desks.
“This
sale represents the 43rd hotel transaction the Miller-Gomes hotel team has
closed in the last 12 months,” notes Gaddy. “The team currently has 12 hotels
in escrow and 20 listings spread across Texas, Kansas, Louisiana, Arkansas, and
Oklahoma.”
For a complete copy of the company’s news release, please
contact:
Gina Relva
Public Relations Manager
(925) 953-1716
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