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 Palace Inn Channelview, a 40-room hospitality property located in Channelview, Texas.
Rajan Patel, an associate in Marcus & Millichap’s Houston office, exclusively listed the property on behalf of the seller, a limited liability company. The seller praised his experience with Patel and the Miller-Gomes Hotel Team of Marcus & Millichap stating, “Rajan Patel surpassed my expectations in quickly selling my hotel with the Miller-Gomes Hotel team of Marcus & Millichap’s assistance. He demonstrated expertise, commitment, and clear communication, earning my strong recommendation and anticipation for future collaboration.”
Patel also secured and represented the buyer, a private investor, who commented, “Rajan Patel effortlessly discovered the ideal Houston property with exceptional support from both him and the Miller-Gomes Hotel Team of Marcus & Millichap. The transaction was smooth, leaving me appreciative of his skills and excited for additional projects.”
Chris Gomes, executive managing director, and Skyler Cooper, senior vice president, based in the firm’s Dallas office, and Allan Miller, senior managing director in the firm’s Austin office, were listed on the deal as supporting brokers.
The Palace Inn Channelview is located at 16007 E Freeway Service Road in Channelview, Texas.
The Miller-Gomes Hotel Team of Marcus & Millichap has sold over 600 hotels across the nation since its inception. The team has 81 active listings across 20 states, 17 hotels under contract, and closed 83 transactions in 2023.
About Marcus & Millichap, Inc. (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, 2023, the company had 1,783 investment sales and financing professionals in over 80 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 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.
