Marcus & Millichap Closes Sale of Dallas Hotel
- Nov 30, 2015
Marcus & Millichap recently arranged the sale of a 146-key Marriott-flagged select service hotel located at 2930 Forest Lane in Dallas.
The Courtyard Dallas-LBJ at Josey is conveniently located off interstates 35 and 635 and is close to the DART rail system, Dallas Love Field Airport and the Dallas/Fort Worth International Airport. The three-story hotel was built in 1986 and went through renovations in 2014 and 2015, including upgrades throughout the property and additional amenities.
Chris Gomes, vice president investments in Marcus & Millichap’s Dallas office, and Allan Miller, vice president investments in the firm’s San Antonio office, represented the seller of The Courtyard Dallas-LBJ at Josey and procured the buyer.
“The Texas economy is still growing at a solid pace and travel volume remains elevated, supporting high hotel occupancy and respectable improvement in revenue measures,” said Gomes in a prepared statement. “The Dallas hospitality property market is well positioned for further gains in all key performance metrics in the foreseeable future.”
The Courtyard Dallas-LBJ at Josey offers a range of amenities for guests such as on-site restaurant with bar, sundry shop, fitness center and two event rooms with a total of 1,248 square feet of event space.
Image courtesy of The Courtyard Dallas-LBJ at Josey