The 107-room Element by Westin in Bentonville, Ark., has been sold to Helix Hospitality in a deal facilitated by Marcus & Millichap. Other terms and conditions were not disclosed.
The four-story hotel—which was built in 2019—was sold on behalf of ISquare Properties. Located on 3.4 acres of property, the hotel’s amenities include an outdoor pool, fitness and business centers, as well as meeting space. Helix Hospitality is a Chicago-based hotel ownership and management company with roughly 25 hotels in its portfolio.
"Element Bentonville, an institutional-grade asset, is well-positioned in one of the country’s most dynamic and rapidly growing markets,” Chris Gomes, executive managing director investments, Marcus & Millichap, said in a statement. “Located along the I-49 corridor, the property offers exceptional connectivity and visibility, with immediate access to major demand generators, including Walmart’s global headquarters, the new Walmart Home Office campus, Northwest Medical Center and Crystal Bridges Museum of American Art. The combination of corporate, medical and cultural anchors—along with the region’s sustained growth in the leisure segment—makes this a prime long-term investment opportunity.”
Gomes and Skyler Cooper, senior managing director investments—both investment specialists in Marcus & Millichap’s Dallas office—marketed the property. The transaction received additional support from Allan Miller of the Miller-Gomes Hotel Team. Steve Greer is the firm’s broker of record in Arkansas.