(MENAFN- PR Newswire)
DALLAS, April 15, 2022 /PRNewswire/ -- Mohr Partners, Inc., a leading global corporate real estate services firm, recently announced the successful sale of the La Quinta Inn & Suites, an 85-room hotel built in 2020, located in Red Oak, Texas.
Situated only 20 minutes from Downtown Dallas, the La Quinta Inn & Suites sits off of Interstate 35, a major shipping and travel route connecting the Dallas/Fort Worth Metroplex with Austin and San Antonio.
La Quinta in Red Oak, TX
Mohr Partners' Capital Markets division, led by Eric Beichler, Managing Principal/Shareholder and Grant Palmer, Managing Director, sourced the opportunity to an out-of-state private buyer.
'We are pleased that we were able to successfully sell the asset for the ownership group in a very timely manner while achieving a meaningful sale of seven times gross revenue,' Beichler said.
The property sits in a growing part of the Dallas/Fort Worth area, with nearly 275,000 people living within 15 minutes. Additionally, the daytime population exceeds 240,000 people, with over 6,500 business located less than 15 minutes away.
Nearby national credit tenants include Walmart Supercenter, Starbucks, Chick-fil-A, Panda Express, Whataburger, CVS Pharmacy, McDonalds and many more.
Palmer and Beichler exclusively represented the buyer in the transaction, which achieved a meaningful value equal to seven times the hotel's gross revenue. Additional terms of the sale were not disclosed.
About Mohr Partners, Inc. Mohr Partners, Inc. is a global corporate real estate advisor, providing corporate tenants with an integrated set of portfolio services including strategic planning, business intelligence, lease administration/accounting & FASB ASC 842 compliance, research and site selection, labor analytics, project and construction management, comprehensive demographics analysis, economic incentives negotiations and transaction management. Since 1986, Mohr Partners has been managing real estate portfolios for corporations, and each year completes transactions for its clients in all 50 U.S. states, all provinces of Canada and locations around the world. Mohr Partners seamlessly provides corporate real estate services globally through its strategic alliance partners in Canada, Mexico/Latin America, EMEA and Asia Pacific. For more information on Mohr Partners, please visit .
SOURCE Mohr Partners, Inc.
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