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Marcus & Millichap Facilitates Sale of 88-Room Hampton Inn in Paragould, Arkansas
Marcus & Millichap has successfully arranged the sale of an 88-room Hampton Inn located in Paragould, Arkansas.
“This sale worked out very well for both parties,” said Allan Miller, Senior Managing Director Investments. “The buyer was completing a 1031 exchange and found the Hampton Inn to be an ideal fit given its strong operating performance, location, and quality construction. The transaction represents a great match between long-term investment goals and a well-performing hospitality asset.”
Miller, an investment specialist based in Marcus & Millichap’s Austin office, marketed the property on behalf of the seller — a regional institutional entity — in collaboration with Steve Greer, the firm’s broker of record in Arkansas. Additional support in the transaction was provided by Chris Gomes of the Miller-Gomes Hotel Team.
The Hampton Inn Paragould was built in 2016 and occupies a 1.72-acre site at 3810 Linwood Drive. The property is well-located near several educational institutions, including Arkansas State University, Black River Technical College, and Crowley’s Ridge College.
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