CEDAR PARK, TX, October 6, 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 Staybridge Suites Cedar Park - Austin North, an 82-room hospitality property located in Cedar Park, Texas, according to Bruce E. Bentley III, regional manager of the firm’s Austin office.
Allan Miller, senior vice president, an investment specialist 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, a limited liability company, was secured and represented by Miller. Chris Gomes, senior managing director, an investment specialist in Marcus & Millichap’s Dallas office, was also listed on the deal as a supporting broker.
Staybridge Suites Cedar Park - Austin North is located at 1110 Arrow Point Drive in Cedar Park, Texas. The 82-room property was built in 2020 and spans 2.25 acres.
The Miller-Gomes Hotel Team of Marcus & Millichap has sold over 535 hotels across the nation since its inception, with this sale marking the 27th closing within the Austin MSA. The team has over 60 active listings across 21 states with 36 assets under contract and 73 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.
