CONROE, TX, July 5, 2012â€“ Marcus & Millichap Real Estate Investment Services, the nationâ€™s largest real estate investment services firm, has announced the sale of Motel 6 #385, a 123 room motel located at 820 Interstate 45 South in Conroe, TX, according to David H. Luther, Vice President/Regional Manager of Marcus & Millichapâ€™s Houston office.
Michael Yu, Rahul Bijlani, Eric Guerrero and Tyler Bean, investment specialists in Marcus & Millichapâ€™s Houston office, had the exclusive listing to market the property on behalf of the seller, ACCOR North America.Â Within a three week timeline, the group secured multiple offers at the full list price. Â The ultimate buyer secured was a local Houston based investor that closed the transaction in two months with a significant amount of non-refundable earnest money day one of the contract.
This sale represents the second transaction the group closed with the seller this year and the tenth transaction overall this year. They currently have six hotels in escrow with 17 listings spread across Texas. .