PARIS, TN, February 12, 2024 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Paris Inn & Suites, a 58-room hospitality property located in Paris, TN, according to Mark R. McCoy, regional manager of the firm’s Dallas office.
Mitchell Presas, an associate in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a limited liability company, was secured and represented by Mitchell Presas and Skyler Cooper, senior vice president in the firm’s Dallas office. Executive managing director, Chris Gomes, in the firm’s Dallas office was listed on the deal as a supporting broker alongside Allan Miller, senior managing director, in the firm’s Austin office. Jody McKibben, the firm’s broker of record in Tennessee, assisted in facilitating the closing of this transaction.
Paris Inn & Suites is located at 1297 E Wood Street in Paris, Tennessee. The 58-room, exterior-corridor, two-story building was constructed in 1984 and spans 4.83 acres. Various common area amenities at the Property include an outdoor pool, banquet space, restaurant and bar, and spacious parking.
The Miller-Gomes Hotel Team of Marcus & Millichap has sold over 600 hotels across the nation since its inception. The team has 50 active listings across 22 states, 17 hotels under contract, and closed 83 transactions in 2023.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2022, the company had 1,904 investment sales and financing professionals in 81 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion. For additional information, please visit www.MarcusMillichap.com.
