CARY, N.C., Mar. 16, 2026 - 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 a 122-room Comfort Suites in Cary, North Carolina.

"We ran a very competitive process and identified a local developer planning to convert the property into an extended-stay Hilton asset," said Jack Davis, senior managing director investments. "The property sold for more than 4.5 times revenue on a pre-PIP basis and at a cap rate below 8 percent."

Davis, along with Marcus & Millichap's Eric Webster, Joce Messinger and Chase Dewese represented the private seller.

The property is at 350 Ashville Ave., situated near Interstate 40 and within five miles of Raleigh-Durham International Airport. The five-story hotel was built in 1999 and renovated in 2019. Amenities include complimentary breakfast, an indoor heated pool, fitness center, business center, meeting space and guest laundry.

The hotel is near Research Triangle Park and several major employers, including SAS Institute and Epic Games, and is within driving distance of Duke University, the University of North Carolina at Chapel Hill and North Carolina State University.

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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, 2025, the company had 1,808 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 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit https://www.MarcusMillichap.com.