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Marcus & Millichap Arranges the Sale of A 55-Room Hospitality Property in Alvin, Texas

November 11, 2022

ALVIN, TEXAS, November 11, 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 La Quinta Inn & Suites Alvin, a 55-room hospitality property located in Alvin, Texas, according to Ford Noe, Regional Manager of the firm’s Houston office.

Andrew B. Frosch, First Vice President, and Joseph Manuel, Associate, in Marcus & Millichap’s Houston office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was secured and represented by Frosch and Manuel. Allan Miller, Senior Vice President, and Chris Gomes, Senior Managing Director, in Marcus & Millichap’s Austin and Dallas offices, respectively, were also listed on the deal as supporting brokers.

"I want to thank Joseph and Andrew for their great work in facilitating the sale of our hotel,” praised Nizar Khimani of Welcome 35 Hospitality, LP. “Joseph was in constant contact with all parties and very responsive to all our needs as a seller.” Khimani explained that Manuel and Frosch have earned his recommendation to “anyone looking to buy or sell a hotel” because of their “professional and diligent work that ensured a smooth and quick closing.”

La Quinta Inn & Suites Alvin is located at 880 TX-35 Loop in Alvin, Texas. The 55-room property was built in 2009 and spans 1.39 acres.

The Miller-Gomes Hotel Team of Marcus & Millichap has sold over 535 hotels across the nation since its inception. The team has over 60 active listings across 21 states with 35 assets under contract and 74 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.

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