Market Screener | July 28, 2022
SANGER, TEXAS, July 28, 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 Holiday Inn Express & Suites Denton-Sanger, a 2020 built 77-room hotel located in Sanger, Texas. Sanger, Texas is an upcoming and fast-growing suburb of DFW MSA, located just a few miles north of Denton, Texas off Interstate 35. Holiday Inn Express & Suites Denton-Sanger is located at 600 North Stemmons Street in Sanger, Texas.
Chris Gomes and Allan Miller, investment specialists in Marcus & Millichap's Dallas office, had the exclusive listing to market the property on behalf of the seller, a limited liability company based in Texas. The buyer, a limited liability company, was secured and represented by Chris Gomes. "The buyer was in a 1031 exchange," Gomes explained. "This property's newer build, strong ramp up in revenue, and location along I-35 made this a lucrative upleg investment," said Gomes.
The Miller-Gomes Hotel Team of Marcus & Millichap has sold over 480 hotels across the nation. The Team currently has nearly 50 active listings across 12 states with over 40 assets under contract.
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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.
