Courtyard Marriott to Locate in Downtown Sunnyvale, Calif.
National Real Estate Investor
August 06, 2013
SAN JOSE, CA – RBN announced today that Summerhill Homes sold a 2-acre vacant parcel in downtown Sunnyvale, Calif. to T2 Development, which has secured approval to develop a Courtyard by Marriott at the site. Located at a former auto dealership at 660 W. El Camino Real, the Courtyard by Marriott will offer convenient hotel accommodations for those visiting nearby technology companies and other businesses. T2 Development plans to complete development of the 4-level, 145-room hotel in 2014.
“We were glad to be able to bring Summerhill Homes, T2Development, and the City of Sunnyvale together. This is a win-win for everyone involved, but particularly for the surrounding community, which gets a name-brand hotel bringing key amenities and much-appreciated tax revenue to the city,” concurred Randol Mackley and Bruce Frazer, both senior vice presidents with SRS Real Estate Partners, who represented the seller and buyer in the sales transaction.
The seller, Summerhill homes, is the homebuilding division of Marcus & Millichap Company. The buyer, T2 Development LLC, specializes in hotel investment, development and management services.