REBusiness Online | January 4, 2023
SAN MARCOS, TX, December 19, 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 Fairfield Inn & Suites Austin San Marcos, a 108-room hospitality property located in San Marcos, Texas, according to Bruce E. Bentley III, vice president and regional manager of the firm’s Austin office.
Allan Miller, senior vice president, in Marcus & Millichap’s Austin office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, also a limited liability company, was secured and represented by Miller. Chris Gomes, senior managing director, in Marcus & Millichap’s Dallas office was also listed on the deal as a supporting broker.
Fairfield Inn & Suites Austin San Marcos is located at 1250 N Interstate 35 Frontage Rd in San Marcos, Texas. The 108-room property was built in 2015 and situated on a 2.77-acre lot.
“This offering generated strong interest from several different buyer groups,” Miller explained. “We are thankful for the seller’s trust in our team, as well as Marcus & Millichap’s marketing platform.”
The Miller-Gomes Hotel Team of Marcus & Millichap has sold over 535 hotels across the nation since its inception, with this sale marking the team's 28th closing within the Austin MSA. The team has over 50 active listings across 18 states with 31 assets under contract and 93 closings this year.
# # #
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.
