SAN ANTONIO, TEXAS, August 1, 2022 – 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 Red Roof Inn San Antonio Northeast – Rittiman Road, a 102-room hospitality property located in San Antonio, Texas, according to Ford Noe, regional manager of the firm’s Houston office.
Andrew B. Frosch, Joseph Manuel, Chris Gomes, and Allan Miller, investment specialists in Marcus & Millichap’s Houston offices, had the exclusive listing to market the property on behalf of the seller.
The buyer, an out-of-state investment group, was procured by Frosch, Manuel, Gomes, and Miller. Identifying an opportunity to grow their investment portfolio, the buyer sought to expand into the San Antonio market by converting the hotel for alternative uses.
Red Roof Inn San Antonio Northeast – Rittiman Road is located at 4621 Rittiman Road in San Antonio, Texas. The 102-room property was built in 1982.
The Miller-Gomes Hotel Team of Marcus & Millichap has sold over 500 hotels across the nation. The Team has over 60 active listings across 21 states with more than 30 assets under contract and 50 closings this year.
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About Marcus & Millichap (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, 2021, the company had 1,994 investment sales and financing professionals in 82 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 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.
