172
NEWARK, CALIF. – The 127-room TownePlace Suites by Marriott has sold to Moody National REIT 1 for $11.4 million. The hotel is located at 39802 Cedar Blvd., just off Interstate 880. It caters to extended-stay travelers in East Bay and Silicon Valley. TownePlace opened in 2000. The seller was MN Newark, LLC. The sale was executed by Scott Griemsmann of Paramount Lodging Advisors.