Marcus & Millichap sells Tucson, Ariz., hotel for $9.6M

Marcus & Millichap sold the Hotel Tucson City Center Inn Suites, a 267-room property in Tucson, Ariz. The asset sold for $9.6 million.

James I. Meng and Jon R. Grantham, hospitality investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a real estate investment trust publicly traded on the New York Stock Exchange. The buyer, a private investor from Texas, was secured and represented by Lisa Estrada, a retail property investment specialist in Marcus & Millichap’s Fort Worth office.

FREE DAILY NEWSLETTER

Like this story? Subscribe to Operations!

Hospitality professionals turn to Operations as their go-to source for breaking news on guest rooms, food & beverage, hospitality trends, management, and more. Sign up today to get news and updates delivered to your inbox daily and read on the go.

Hotel Tucson City Center Inn Suites is a four-story hotel located at 475 North Granada Ave. in Tucson’s historic downtown Presidio Arts District. The property is situated on a 10-acre site adjacent to the I-10 freeway with excellent visibility from that high-traffic arterial. The property’s amenities include an Olympic-sized, heated pooll an in-house restaurant; a business center; sand volleyball courts; and a 16,000-square-foot ballroom and meeting space that is downtown Tucson’s largest.

Suggested Articles

While Milan posted positive growth in occupancy, ADR and RevPAR, Amsterdam was down in all three metrics.

The Oyo Hotel & Casino will be a conversion of the Hooters Casino Hotel.

The Courtyard by Marriott Columbus Worthington brings Commonwealth Hotels’ portfolio to 49 hotels and 5,980 rooms.